Exclusive to A.M. Costa Rica
There have been more new tax rules in the last four years than there have been in the past 10. Many expats are lost in the maze, and their heads are about to burst with all the information. Here is a concise list of the deadlines past and present to help everyone get organized.
Jan 31. Law 9428 taxes were due. Most people refer to these assessments as the yearly company taxes. In Spanish, they are called, “Impuesto a las Personas Jurídicas.” It is not an income tax, but just a charge by the government for using a company structure to hold assets instead of in a personal name. Active companies pay 25% of Costa Rica’s minimum salary or 112,500 colons ($200), and inactive entities pay 15% or 67,530 colons ($120). Currently, the base salary in the country is 450,200 colons or around $800. For those that have not paid, interest is now accruing, and they should get the amount due paid as soon as possible to avoid the overcharges.
March 16. Income tax returns are due for any company doing business that was activated after July 1, 2019. It is important to note this is for active companies only and does not apply to inactive ones. [Read more…]