GAZETTE SUMMARY EXECUTIVE DECREES Update of the single tax by fuel type The Tax Authorities updated the amounts of the single tax by fuel type, as follows: Fuel Type Tax (colones) Regular Gasoline 241,25 “Super” Gasoline 252,75 Diesel 142,75 Asphalt 49,00 Asphaltic emulsion 36,75 Bunker Fuel 23,25 LPG 49,00 Jet Fuel A1 144,75 Av Gas…
Category Archives: News
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GAZETTE SUMMARY EXECUTIVE DECREES Delays in granting benefits Article 5 of Executive Decree number 40540-H, called “Fiscal Contingency” was amended, authorizing a delay for granting the declarations of public interest, sports activity, or cultural interest, for activities or legal entities, by the different government entities that have the authority to grant it. The declaration of sports…
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Gazette Summary ADMINISTRATIVE RESOLUTIONS Registrations, modifications or deregistrations of Taxpayers Through Resolution No. DGT-R-60.2017 of December 20, 2017, the Tax Administration clarified the necessary requirements and procedures for registration, modification or de-registration before the Taxpayers’ Registry. Likewise, the resolution details that, for economic activities, the Tax Administration adopted the Uniform International Industrial Classification (ISIC). The…
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On January 21, 2019, a Bill was introduced to the Economic Affairs committee that would re-establish Costa Rica as one of the foremost countries in the conservation of natural resources and the fight against pollution. This project proposes an ambitious regulation that would prohibit public purchases of single-use plastics, prevent the production and import of…
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Convention for the Harmonization of International Taxation on Commerce among the States Parties of the Central America Custom Union The Legislative Assembly has ratified the Convention for the Harmonization of International Taxation on Commerce among the State Parties of the Central American Customs Union. The purpose of this Convention is to harmonize the different taxes on…
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On February 6th, 2018, the Legislative Assembly adopted the last amendment to the Montreal Protocol on Substances that Deplete the Ozone Layer. This is the sixth amendment that has been made to the Montreal Protocol, an agreement designed to phase-down the production and consumption of ozone-depleting substances, thereby reducing their potential release into the atmosphere….
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On December 3rd, 2018, the Legislative Assembly approved the Bill entitled Tax Reform – Law of Strengthening of Public Finances. The Bill includes two major amendments to the Costa Rican tax legislation. First, the Sales Tax Law would be completely changed, since it is intended to transform the actual Sales Tax into a Value Added Tax (VAT). The…
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Aug
The second Customs and Tax Amnesty in Honduras 2018 By Decree No. 51-2018 of June 6, 2018, the second Customs and Tax Amnesty of the present year was issued, published in the October 6, 2018 edition in the Official Gazette, containing the following benefits: Tax Regularization Customs and Tax amnesty Amnesty Honduran Institute of Social…
Blog, News
BLP Newflash: Important changes in legislation, political landscape in El Salvador / June 2018
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Repeal of the Tax on Financial Transaction Law On May 28, 2018, the Supreme Court of Justice repealed the Tax on Financial Transactions Law (“TFTL”) which levies upon financial operations undertaken in El Salvador. The Supreme Court argued that the Legislative Assembly had violated the constitutional procedure for enacting laws because the text of the…
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Acceptance of the Bill Proposed by the Costa Rican Ministry of Treasury On November 23, 2018, the Constitutional Chamber of the Supreme Court of Justice confirmed that the Bill entitled Tax Reform – Law of Strengthening of Public Finances has no vices of unconstitutionality; therefore, the Bill will continue its process until it becomes the Law of the Republic, which…