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
Companies have different types of books depending on what kind of company or corporation it is, and each kind of book is identified with a unique legalization number. In the Costa Rican market, the most important types of companies are: A. Corporations with issued shares whose books
In recent months, the Costa Rican Tax Administration (Ministerio de Hacienda) has implemented various mechanisms in order to detect and control the legitimization of capital and to root out illicit enrichment through commercial companies in Costa Rica. It is necessary to establish a difference between each
A moratorium on sanctions has been established for a maximum non-extendable term of 3 months in the case of those failing to file the 2019 Registry for Final Shareholder Beneficiary as set out in the Joint Resolution of General Supplement for the Regulations on the Registry for Final Shareholder Beneficiary.
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
Shareholder’s Registry Costa Rica has been working for many years to meet the requirements to join the Organization for Economic Cooperation and Development or OECD. Some of those requirements include having a balanced budget which in part means having a better tax collection system. On December 20th,
The longer you’ve been an expat in Costa Rica, or the longer you have been researching about Costa Rica while seriously considering moving there, the quicker you will notice that there seem to be endless and confusing amounts of information on how to legally go
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 2019. We have compiled a basic guide of what will be required to complete the update, you can review
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
La Gaceta issue from April 3rd, published a notice stating the new deadlines for filing the registration for shareholders. As you may know, it is required to file with the Central Bank of Costa Rica (BCCR) a list of the shareholders owning more than 15% of