On February 23, 2023, Resolution MH-DGT-RES-0001-2023 modifying subparagraph e) of article 1 of Resolution DGT-R-36-2001, Reform of exempt operations related to exports established in article 11 of the Regulation of the Value Added Tax Law, was published. Consequently, effective as of February 23, 2023, for the transport services of goods destined for export to enjoy…
Category Archives: Tax
01
Feb
Feb
On January 30, 2023, RES-DGH-001-2023 was published by which the amount of the tax established in Law No. 7972 was reduced by 0.49%, as follows: Percentage of alcohol by volume Tax (colones per milliliter of pure alcohol) Up to 15% 3.75 From 15% to 30% 4.51 Over 30% 5.25 These percentages apply as of February…
31
Jan
Jan
On January 30, 2023, Resolution RES-DGH-ONT-001-2023 was published, updating the requirements for exemption from real estate tax as follows: That the real property is unique, i.e., that such property is registered in the Real Estate Registry by the individual only. That the value of the property registered in the Municipality does not exceed ¢20,799,000. In…
Blog, Costa Rica, News, Tax
Update of the Salary and Income Tax Brackets and Tax Credits as of January 1, 2023
05
Jan
Jan
On December 23, 2022, Executive Decree No. 43852-H was published in the official newspaper La Gaceta setting forth the new brackets of the single tax on income received for personal dependent work or retirement or pension and other remuneration for personal services (Salary Tax), the tax credits for individuals with lucrative activities (Tax Credits) and…
14
Dec
Dec
Our team specialist in Tax law shares the primary tax obligations for the 2023 fiscal year in Costa Rica. D-101 Income Tax Declaration Due within 2 months and 15 days after the closing of the company fiscal period. Taxpayers as defined in article two of Law No. 7092- Income Tax Law. Partial Payments of Income…
24
Nov
Nov
Michelle Avilés Senior Associate Nicaragua [email protected] A free transfer is when the donor (transferor) bestows a benefit or right without being paid, even though the transfer may be subject to the fulfillment of certain conditions, such as an inheritance, donation, or prize. The taxpayer in this type of conveyance is the party who accepts the…
06
Oct
Oct
On October 4, 2022, the Legislative Assembly approved a new Fire Department Law for El Salvador. The purpose of the law is to modernize the fire department, giving it more institutional independence to enable a faster response to an emergency. This law implements an Ad-Valorem tax of 5% on the contracting, extension, renewal, or modification…
12
Aug
Aug
Michelle Avilés Senior Associate Tax specialist Nicaragua [email protected] The onerous transfer (sale, exchange, etc.) of goods is subject to the payment of income tax for capital gains. As its name indicates, with certain exceptions, its generating event is the profits generated by the transfer of assets. As it is a tax on profits, for its…
11
Aug
Aug
Michelle Avilés Senior Associate Tax specialist Nicaragua [email protected] Any property transfer, whether profitable or not, is subject to income tax on capital gain or loss. Although gratuitous transfers cannot generate capital losses, the calculation of the tax base of an unprofitable transfer may indicate that a capital loss has occurred in the transaction. Since a…