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I’ve been trying to understand the new corporate tax–am I correct that if I only have a corporation for my condo, that my corporate tax is the $158–not the $318 because property and car corportions are not considered “active” corporations. Thanks in advance
The proposed tax legislation would give a fifty percent discount to inactive corporations, but the corporation’s registration in the National Registry must state that it is inactive. There’s a way to check on the status of your corporation but someone else will have to point you to it.
Boy, this tax stuff is getting more and more complicated it seems. My husband is a tax attorney here in Alabama and even he has to read everything twice to make sure he has all the details. It seems like there is something new everyday that contradicts what was said the day before.
This stuff is all conjectural at this point. Nothing is in cement just yet, so the news and commentaries are understandably all over the map and likely contradictory. There’s no reason to be worried at this point. My father taught me early in life not to yell “ouch!” until I’d been hurt.
[quote=”alewis”] It seems like there is something new everyday that contradicts what was said the day before.[/quote]
Welcome to Costa Rica.
It can take years to decide what they are going to do and then more years to decide how to do it.:lol:
I have been an attorney for 37 years and am in the process of closing my business to move to CR full time by mid-2012 and I have been studying the CR statutes and laws for a while including this proposed tax bill and must admit all of you are correct–no one really knows what or if it will be–even my CR attorney can’t be sure of the interpretation. My latest conclusion is that if you have a corp for your house/condo or your car or phone etc you will be taxed at the lower rate IF you properly do the paperwork to declare them inactive as income producing corps–but my question is–what if you want to sell your corp? Can you sell an inactive corp? If someone wiser than me knows I appreciate any info and knowledge. Of course what is true today may be different manana!
Whether your Costa Rican corporation is registered as active or inactive has no bearing on whether or not you can sell it. A share of stock in a corporation is a share of stock in a corporation. You can buy mine; I can buy yours. All you need are the corporate books, the stock certificates, and the services of a Costa Rican attorney.
None of this is complicated.
[quote=”chasebeagle2000″]I have been an attorney for 37 years and am in the process of closing my business to move to CR full time by mid-2012 and I have been studying the CR statutes and laws for a while including this proposed tax bill and must admit all of you are correct–no one really knows what or if it will be–even my CR attorney can’t be sure of the interpretation. My latest conclusion is that if you have a corp for your house/condo or your car or phone etc you will be taxed at the lower rate IF you properly do the paperwork to declare them inactive as income producing corps–but my question is–what if you want to sell your corp? Can you sell an inactive corp? If someone wiser than me knows I appreciate any info and knowledge. Of course what is true today may be different manana![/quote]
David is correct and also in terms of a “rule” – everything is for sale in Costa Rica. Everything being the operative word. 😆
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