Brackets on Wages tax, Income tax and Tax Credits were updated last December to become enforced in January 2021. The update is carried out through an adjustment of zero point twenty-eight percent (0.28%), currently being handled the following way: Tax on wages Income of up to ¢
Capital Gain is a benefit that results from a disposal of a capital asset—such as stocks, bonds or real estate—when the amount obtained in the sale exceeds the previous purchase price of the real estate, share or bond. Example: on December 1, shares are acquired
2020 has been a year of many changes in relation to tax matters. Among them, the transition of the fiscal year. As of 2021 the fiscal period will run 12 months from January to December. Previously, the fiscal period in Costa Rica ran from October
If you own a business or work as an independent professional, consider that last December 1st, all products, and services charged with the VAT need to include its corresponding CAByS (Catalog of Goods and Service) code when billing. The CAByS, or Catalog of Goods and Services,
Read this article in Spanish here. The D-151 is an annual information return. It must be submitted by all natural or legal persons (companies) required to file the income tax return, regardless of whether they are public limited companies, corporations, foundations, etc. and regardless of whether
Upon entry into force of Law # 9635 (Law for the Strengthening of Public Finances), in December 2018, a new “tax category” called Capital Income was created. To grasp this concept, let us begin by saying that income in Costa Rica is not taxed in the
Most of you may be familiar with SINPE which is the account number used for wire transfers between accounts from different banks. The BCCR (The Costa Rican Central Bank) is implementing a change for the processing of these wire transfers. The change will be implemented automatically