A new project was summited at the Costa Rican Congress, titled Moratorium for the Collection of the Value Added Tax of the Basic food basket to alleviate the economic effects of COVID-19 on the vulnerable population. It intends to delay up to two semesters after the end of the COVID-19 pandemic, the entry into force…
Tag Archives: Tax
31
Mar
Mar
By resolution RES-DGA-147-2020 of March 30, 2020, the Costa Rica´s General Directorate of Customs made the deferred payment mechanism official through TICA system, for the months of April, May, and June 2020, for those importers who wish to avail themselves of the moratorium of the customs tax obligation on the definitive importation of merchandise, regulated…
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Mar
Mar
In the Scope No. 65 to La Gaceta No. 64 of March 29, 2020, the “Regulation to Law No. 9830 of March 19, 2020, on Tax Relief before Covid-19” was published. Regarding the moratorium of the customs tax obligation on the final import of merchandises, it regulates: Subject: Individuals or legal entities registered as taxpayers in…
24
Mar
Mar
The new Law of the Republic determines a moratorium on the payment of VAT, income tax advance payments, excise tax and import duties, during the months of April, May and June 2020. Upon the completion of the moratorium, taxpayers must pay the Ministry of Treasury the total amount due for taxes that should have been…
At BLP, Blog
BLP participates in the Tax Symposium organized by the Association of Private Accountants of Costa Rica
12
Nov
Nov
BLP partner Luis Chacón, tax law expert, participated as a speaker at the Tax Symposium organized by the College of Private Accountants on November 6, 2019, in which he discussed the deductibility of expenses, tax havens and hybrid asymmetries in light of the Tax Reform in Costa Rica. For an expense to be deductible from…
21
Aug
Aug
On February 28, 2019, upon publication in the Official Journal, the Gazette, the Law of Amendments and Additions to law No. 822, Tax Agreement Law (Law No. 987), which modifies significant elements of the majority of the taxes contained in the Tax Agreement Law (hereinafter the “LCT”) entered into force. Subsequently, on March 15, 2019,…
21
Aug
Aug
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…
21
Aug
Aug
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…
21
Aug
Aug
Tax Reform – Acceptance of the Bill Proposed by the Ministry of Treasury The special commission created for the approval of the tax reform, Bill N° 20580 – Law for the Improvement of Public Finances (the Bill), accepted, with votes from PLN, PAC, and PUSC, the proposed bill by the Ministry of Treasury a few…
21
Aug
Aug
GAZETTE SUMMARY LAWS Exchange of information on tax matters between the Republic of Costa Rica and the States of Guernsey Through Law 9551 of May 9, the Legislative Assembly approved the whole text of the “Agreement between the Republic of Costa Rica and the States of Guernsey for the exchange of information on tax matters”….