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My understanding is the new Costa Rica Corporate tax, goes into effect Monday. I have one Ltda. corporation for my home, if my calculations are correct, my tax would amount to $179.00 a year. I also read that the government would enact a lien, only after the tax has not been paid, for three years straight. Anyone have any thoughts or insights?
Based upon what my wife read online today, I think you’re estimating your corporate tax liability on the high side. She read that it’ll be more like $65US or so.
Our attorney advised us that all you need in order to pay the tax is the corporation’s cedula number. Take that to the teller at Banco de Costa Rica and tell him or her
[i]”la sociedad esta inactiva”[/i].
Costa Rican corporations can be designated as [i]”inactiva”[/i] if they have no economic activity. When you look up your corporation on the Ministry of Hacienda’s website, ahere will be an [i]”active”/”inactive”[/i] designation. It would probably be well to be sure that yours is [i]”inactive”[/i].
[quote=”DavidCMurray”]Based upon what my wife read online today, I think you’re estimating your corporate tax liability on the high side. She read that it’ll be more like $65US or so.
Our attorney advised us that all you need in order to pay the tax is the corporation’s cedula number. Take that to the teller at Banco de Costa Rica and tell him or her
[i]”la sociedad esta inactiva”[/i].
Costa Rican corporations can be designated as [i]”inactiva”[/i] if they have no economic activity. When you look up your corporation on the Ministry of Hacienda’s website, ahere will be an [i]”active”/”inactive”[/i] designation. It would probably be well to be sure that yours is [i]”inactive”[/i].[/quote]
Hi David – I like your math, but don’t understand how you get that answer. The Inside Costa Rica article today states “Since the payment for 2012 is not a full year, the amount payable for 2012 is ¢135.225 for active and ¢61.612 for inactive corporations.”
Is there a way to reduce that further?
Thanks,
crb[quote=”costaricabill”]
Hi David – I like your math, but don’t understand how you get that answer. The Inside Costa Rica article today states “Since the payment for 2012 is not a full year, the amount payable for 2012 is ¢135.225 for active and ¢61.612 for inactive corporations.”Is there a way to reduce that further?
Thanks,
crb[/quote]You are correct and I am wrong, Bill. This Alzheimer’s is a bitch!
poor marcia! i didn’t know she had alzheimers!! or does she just have a problem with the colon/dolar conversion? jejeje
and because the tax is pro-rated, we are paying less than half of what the cost would be for an active corp. problem is there is no way to pay this tax yet is what i heard, but we have until the end of the month of april to do it.
I understand your sympathy for Marcia’s plight. Fortunately, it’s me who has the Alzheimer’s. She has me which is burden enough for anyone.
All you need do is go to BCR on Monday, tell ’em the corporation’s cedula number, and pay up.
[u][b]NOTE: THIS IS NOT LEGAL ADVICE![/b][/u]
I received a note from a friend of mine today that included the following:[i]”The attorney I work with the most has recommended waiting until after Semana Santa to do anything. He knows of at least a half dozen cases that will be launched with the Constitutional Court immediately when the law goes into effect. There is a good chance the whole thing could be delayed by months before implementation, or even thrown out completely.”[/i]
If we have until the end of April this may be good advice, even if it is [b]NOT LEGAL ADVICE[/b][u][/u]!
There’s no point being the first to pay anything in this wonderful country. If you thinks expats have this on their mind then so do the Tico’s – and they are masters at avoiding paying too much. Cheers.
Good points, CRBill and agarcia. In the event that the tax is delayed or thrown out, it’s unlikely that refunds would be paid. I’m making that assumption based upon the refusal of the government to repay those who paid the very high traffic fines that the Sala IV threw out.
I’m marking my calendar for April 23 to revisit this issue.
David – don’t forget to check your calendar that day. If I can remember I’ll send you a reminder.
crbActually, Bill, I rely on Google Calendar to remind me of these things — if, of course, I remember to use Google Calendar.
(Now what was I going to do next . . ?)
okay, david, you’re in charge of reminding all of us to get to BCR to pay these taxes by the end of the month!
[quote=”DavidCMurray”]You’re relying on [u]me[/u] to remind you?? Better mark your own calendar as well.
[/quote]Mine is marked – of course you will not remember that!
So, anybody went to BCR and tried to pay the tax ?
It is the Registro Nacional who will be collecting this tax. From what I was told by the tax department last week is that the Registro Nacional is not prepared yet for that. So nobody knows what is going on. I will definitely wait until “last minute”.
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