New Costa Rica Corporate Tax

[crhomebuilder]

as of wednesday, may 2, the bcr on-line system was not working. even the bcr bank personnel couldn’t complete my payment wednesday morning. the bcr system at the bank was working wednesday afternoon and I was able to pay the tax.

[watchdog]

At this moment, I understand there to be four Constitutional Court challenges of the Corporation Tax Law, which if anyone of the challenges prevails, would strike-down the Law. I would say, given the track record of laws in CR surviving such challenges, it would be prudent to wait to pay the Tax until such time as these various Court challenges have been dealt with and incurr the late payment penalty at worst and possibly, not have to pay the Tax at all. Certainly, if you pay the Tax and the Law is struck-down, you will not receive a refund of the Tax payment.

[elindermuller]

[quote=”donbuc”]I am currently out of the country. I want to pay my taxes online. I have a banco nacional account. Can I psy the tax online from Banco Nacional to BCR?[/quote]

No, only if you have an account with BCR and therefore can do online banking. You can not transfer from BNCR to BCR.

You can pay the tax when you come back to Costa Rica, since you only have to pay a small fine or interest (25 Colones for inactive or 50 Colones for active Corps. per day)
But make sure you come back during the next 3 years, otherwise the government shuts down the corp. and puts a lien on your property (if the corp. is holding property).

[crhomebuilder]

I had heard the same thing from various CR attorneys. However, while all these legal procedures are taking place, you may not be able to access your verification of power of attorney. If you are conducting business here, without these documents your business could be abruptly halted. No sea necios, pague sus impuestos y disfrute sus vidas en Ticiolanida…

[srigsby]

[quote=”crhomebuilder”]I had heard the same thing from various CR attorneys. However, while all these legal procedures are taking place, you may not be able to access your verification of power of attorney. If you are conducting business here, without these documents your business could be abruptly halted. No sea necios, pague sus impuestos y disfrute sus vidas en Ticiolanida…[/quote]

Have there been any recent developments regarding the Corporate tax? I own one active S.A. and one inactive and still havn’t paid these fee’s. We are currently living in TN and to pay these charges I must go through an attorney, which adds up fast. Just looking for some good advise from you expats. Thanks in advance!

[Cancertomnpdx]

I paid this tax last month through my attorney. He insisted doing for me because he holds my original corporation papers and wanted the receipt with my file. His fee was normal for his work. And much to his credit and tenacity, he finally got my name on my property account in the Canton Paraiso. The property account drama is either the basis of a good Colombian soap opera or a whole chapter in the story of my life in Costa Rica. The books is due in about 20 years I would think.

Later,
Tom
Portland, Oregon

[Andrew]

There is a good article about the new coroporate tax in today’s La Nacion in Spanish of course.

[url=http://www.nacion.com/2012-06-06/Economia/si-no-desinscribe-la-sociedad-este-mes–afrontara-el-tributo.aspx]Si no desinscribe la sociedad este mes, afrontará el tributo[/url]

Scott

[davidd]

Hello guys

I have a few thoughts and would like to hear feedback from the experienced seasoned people living here.

as we all know this country is notorious in creating these laws that are valid today and tomorrow not and valid the next.

it’s like “she loves, she loves me not she loves me “

since alot of people on this forum generally want to comply with the laws the first thing that crosses the mind is where do I pay

then something happens where its changed again but the early adopters got the shaft so to speak. But I guess they have peace of mind 🙂

I remember Scott when he paid that $600 fine for some transit law and shortly they changed it back to $10 bucks.

so in this example scott lost out that money. because if there is 1 FACT here in this country and I would love to hear someone tell me differently

once you pay.. there are NO REFUNDS 😀

same silliness happens with the luxury tax..

my point and question is

what happens to the S.A. that have no assets and are just allowed to fade away and dissolve..??

how would they go after a corp and the directors.. since many of the people that are on the S.A. were costa rica relatives and such to get the initial company started. I remember the lawyer would get his secretary and other people and list them.

also depending on when you started your S.A. the passport number you used is probably different now since when you get a new passport there is a different number.

all this actually makes it difficult for them to actually go and collect.

now KEEP in mind I am speaking of S.A. that have no assets or bank accounts..

I would speculate just like the way they collected the rich peoples taxes on nice homes that nothing will happen

and depending on when you set up the corp I think it would not be worth the effort for them to follow thru.

these crazy laws here regarding taxation and collecting revenue does not solve any of the issues and problems here. the roads and services all stay the same.

I wonder where does all this money go???

david

[chorizo]

The interest is talling at a rate of approx $2 US dollars a month. I havent paid mine either and Im not gonna until some final resolution comes of this thru the courts. Just like the traffic ticket situation. Cause for all intentional purposes, transfer of property can still be negotiated at the final sales table. You can disolve the S.A. on sale day and still transfer. And since liens cant be placed on the land thru the S.A. only the Muni can place a lien, this corporate tricker is strickly for the purpose of transfer and taxes. Keep paying your property taxes and its all good. Pura Vida my friends.

[Author]

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