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Work Contract Suspension vs Reduction of Work schedule.
BusinessGovernmentLabor

Work Contract Suspension Reduction of Work schedule What does it mean? Employee: Suspension of his obligation to provide services. Employer: suspension of his obligation to pay salaries. The employer can modify the work contract and reduce the work schedule, if he demonstrates an affectation as a result of COVID19.  How and when these

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tax relief costa rica
BusinessGovernmentTaxes

According to the latest guidelines promulgated by the Government, the Tax relief measures will be applicable to: a) VAT taxpayers, meaning people who sell assets or services. This includes: importers, exporters, and people subject to the simplified regime, as well as those who sell exempt assets or services. b) Taxpayer of the selective consumption

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Withdrawal from the Labor Capitalization Fund
BusinessGovernmentLabor

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,

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Registry of Transparency and Final Beneficiaries 2020 update
BusinessGovernmentTaxes

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

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Sanitary Vehicle Restriction by COVID-19 and the Fundamental Right to Free Transit
BusinessGovernmentImmigration

On March 16, a State of Emergency was declared in Costa Rica due to the COVID-19 disease, which causes coughing, fever, and serious respiratory problems. Given this unusual situation, the Executive Power of Costa Rica, in compliance with current regulations and being responsible for protecting the lives of the inhabitants

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Holy Week Vehicle Restriction & Curfew
BusinessImmigration

This afternoon, Wednesday, April 1, 2020, the President announced the following new restrictions aiming to control the spread of the COVID-19 virus: 1. Long-distance transportation services (buses) will be restricted to travel less than 75 kilometers. 2. Places with sanitary operation permits (restaurant, cafes, sodas) must remain closed. Home delivery services are

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RENEGOTIATION OF CONTRACTS IN THE CASE OF FORCE MAJEURE
BusinessEconomyReal Estate

Due to the current state of emergency declared in Costa Rica because of the COVID-19 pandemic, questions have arisen regarding whether it is possible to renegotiate contracts instead of terminating them. If a business is facing financial difficulties, those businesses should ensure that contracts are not terminated and that renegotiations

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About the Solidarity Tax
BusinessGovernmentTaxes

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

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bill to pass
BusinessLandlord/TenantReal Estate

This past Tuesday, March 24th, a new bill was received by the Legislative Branch pertaining to a proposed moratorium on judicial and administrative evictions, which means that landlords would not be able to evict their tenants if they fail to pay rent during the term of this moratorium. This law would aim

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Reduction of work schedule
BusinessLabor

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.

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