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In Costa Rica, there are two types of fundamental organizations that correspond to a non-profit “company” those are: Associations “Asociaciones” and Foundations “Fundaciones”.Associations and foundations are entities that seek to do good to society. But, despite pursuing the same end, there are some differences between

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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 ¢

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Originally, assets belonging to inactive companies were to be declared by March 2021 using form D-135, also known as "Asset Declaration for Inactive Legal Persons," but the required form changed and now it is form D-101 that should be used to present the declaration of

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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

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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

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The Digital Signature was created back in 2005, when the Costa Rican Congress approved a law named “Electronic Documents, Digital Signatures, and Certificates Act” or Ley de Certificados, Firmas Digitales y Documentos Electrónicos. The digital signature is a combination of hardware and software which allows

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Being classified as a minority partner within a mercantile society, also called a minority shareholder, means that one has less than 50% of the shares. Due to their number of shares minority shareholders cannot exert pressure on company decisions made by the majority shareholder.The implications

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Global Income Law taxes the taxpayer based on their residence and not on the place where the income-producing business is located. This allows the system to tax profits obtained in a more or less comprehensive way. It should be noted that this law has been under study

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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,

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