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Preventing and Solving Problems for Expats in Costa Rica

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Costa Rica rules and regulations checklist

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Exclusive to A.M. Costa Rica

Costa Rica rules and regulations often change, confusing most people. What better way to clear the panorama than to have a checklist to mark off what is okay and what is not. The best policy in this country is to avoid problems by catching them before they fester.

For those owning a company these are the important things to track: 1.) the company’s records at the Registro Nacional, 2.) the status of the company at Hacienda (the tax department) and 3.) the status of the company at the Banco Central regarding its RTBF report.

For anyone who still does not know what that is, RTBF is short for Registro de Transparencia y Beneficiarios Finales. The phrase translates into English as transparency and final beneficiaries register. The report was due in April, but the government extended the deadline to May 31 due to COVID-19.

For those owing property in their personal name or in a company, these things should also be checked: 1.) taxes at the municipality and 2.) if there is a water concession on the property, verify it is up-to-date with MINAE, the water directorate.

Here is the checklist: [Read more…]

Early wake-up call for tax form D-135

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Exclusive to A.M. Costa Rica

This is an early wake-up call for all Ticos, expats, and anyone else with an inactive Costa Rican company. The equity tax form D-135 is due March 15. “Equity,” is a fancy name for “net capital” or “net assets.”

Most people who have heard about the D-135 think it is no big deal, and an easy file. It is not. Everyone filing the form will need to put some thought into what goes into the information presented. The tax department is using it to catch tax cheaters.

Here is some background: [Read more…]

Positive legal and tax news for a change!

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There have been several positive legal and tax changes in the past month that are important to expats and Ticos alike. Three warrant special mention: The new rules for online board meetings, the changes to the fines for not filing the RTBF for 2019, and the introduction of TRAVI by Hacienda (the tax department). The acronym stands for tramites virtuales or virtual procedures. [Read more…]

Don’t miss the RTBF filing deadline. Again!

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Exclusive to A.M. Costa Rica

September is almost upon everyone. It is the month the 2020 RTBF is due, again. The same bank-breaking fines are still a reality, so it would be a good idea to take heed and get ready to file the report.

For those who have a selective memory and try to bury tax mandates in the back of their mind, this is the same report that people with a legal entity in Costa Rica had to file back in March.

Here is some background to stimulate the memory neurons. [Read more…]

The company owners delinquency list is out!

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Exclusive to A.M. Costa Rica

There are an estimated 80,000 corporate entities that did not file their owners’ report to the Central Bank.

The full document of those entities that missed the deadline for the 2019 owners report is located on the tax department’s website. It can be downloaded in PDF format for viewing offline or for printing. The report is mandated by Law 9416 and was due by March 31

There may be one last chance for those that are delinquent. Details follow below. [Read more…]

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