The Labor Capitalization Fund (LCF) in Costa Rica is similar to unemployment benefits in the United States. Employers make contributions to the fund so employees can receive income in case of future unemployment. The general rule is that this benefit becomes available after five continuous years working for the same employer,
Per Resolution N° DGT-ICD-R-06-2020 published March 30, 2020, all corporations will now have until September 2020 to comply with the yearly RTFB. But this is not the only change to the mandatory requirement, please keep reading: Ordinary declaration (yearly): The obliged corporations will have 6 additional months to comply with the 2020 period (April to September 2020). This requirement will now
This afternoon, the Costa Rican government proposed applying a “solidarity tax.” The President of the Republic, Carlos Alvarado, commented that other measures and resources available to the government will be exhausted first, so the measure would be implemented only “if necessary.” Under the proposal, a mandatory contribution would be imposed
Last Saturday, the President of the Republic signed a new law which allows employers to reduce the work schedule up to a 75% during the State of Emergency Declaration caused by the COVID-19 crisis. This bill has been in effect since last Monday, March 23rd, recorded as law No. 9832.
Traveling abroad versus losing your immigration status, is it legal? The measures declared by the Government of Costa Rica today brought to my mind some memories about my Law school days as of what are the limits the Public Administration should have when it comes to restricting fundamental rights. If
Costa Rican Congress is expecting to pass the bill 21.845, named “Tax Relief Law Due to COVID-19,” to establish a moratorium on payment of taxes for corporations as a result of the health crisis. With this proposal, the government is looking to ease the tax burden on taxpayers. Among the measures,
Per Resolution Nº DGT-R-075-2019, published in La Gaceta on December 20th, 2019, the Ministerio de Hacienda has finally provided a resolution on how Inactive corporations are required to proceed regarding tax returns. See the information below for details. This Applies To: Inactive legal persons (corporations which do not perform profitably).
As we previously reported, the Registry of Transparency & Final Beneficiaries registry requirement for corporations is a mandatory requirement that will come into effect in September of 2019. We have compiled a basic guide of what will be required to complete the update, you can review the checklist below. Please
Obligation to comply updating the shareholder’s registry for corporations start next September 2019. Here is what you need to know: Overview: The Shareholder’s registry requirement for corporations is a mandatory requirement that will come into effect in September of 2019 as per resolution N° DGT-ICD-R-14-2019 from the General Director of Taxation
With less than a month until Law 9635 (Law for Strengthening Public Finances) comes into effect, we have received a lot of questions and concerns regarding the implementation of the new law on day to day living. The simplest way to explain the upcoming changes could be through a modest