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New Corporation Tax Begins in April Expected to Generate $9.8 Million Annually.

Article Summary:

The first annual payment of the new corporation tax will be collected during the month of April, confirmed Costa Rica’s Ministries of Finance and Justice. Tax collection will be under the direction of the National Register, which falls under the Ministry of Justice. Who estimates that the tax will generate about $ 9.8 million annually to invest in public safety.

Costa Rica: Revista Summa

Original Article Text From Revista Summa via Google Translate :

Costa Rica: New Corporation Tax Will be Charged in April

The first annual payment of the new corporation tax will be collected during the month of April, confirmed yesterday the Ministries of Finance and Justice.

This year, the fee will be $ 265 for legal persons active and $ 133 for inactive (those who have no business operations and that have been declared inactive by the Directorate General of Taxation).

From 2013, the annual tax equivalent to U.S. $ 353 for active companies and $ 176 for the inactive (50% and 25% of basic monthly salary of a clerk, respectively). It must also be canceled in January.

The tax will be lower in 2012 because the Tax Law Legal Persons come into force on 1 April and, consequently, the Government can only charge the equivalent of nine months.

The collection of this new tax will the National Register, which is under the Ministry of Justice.

The Ministry of Finance estimates that the tax will generate about $ 9.8 million annually to invest in public safety and plans to fight crime, but in 2012 the amount will approach $ 51 million.

This new tax deputies approved it last year. President Laura Chinchilla signed into law on December 27 and that same day was published in La Gaceta Digital. According to the text, the standard comes into force three months after its promulgation.

Grace Period
Effective April 1, owners of legal persons will have three months grace to unsubscribe their societies to the registry without having to pay the tax.

Carlos Vargas and Ana Rodriguez, legal counsel of the Ministry of Finance, argued that, if fulfilled this grace period the companies have not been dissolved, its owners have to pay the tax with a fine.

For his part, Justice Minister Hernando Paris, found it unlikely that the legislation directs all legal persons cancel the tax within 30 days, but given time until late June to unsubscribe and not have to pay.

 questioned the minister. In his opinion, the owners are obliged to inform the Registry of carrying out the processing of disenrollment.

However, many people expected Paris to undo their societies come from before it enters into force the Law
In the Registry, there are 560,000 companies registered.

According to the Ministry of Finance, the Registry expects an avalanche of mergers and dissolutions.

The latter allow more companies to join in one by one act, which avoids having to pay several unsubscribe to a notary.

The Law Society reported yesterday that the minimum fee charged for a disenrollment is U.S. $ 147.

According to the College, this fee also applies to the filing of waivers to corporations.

Tax exempt micro and small enterprises that are active and registered with the Ministry of Economy, Industry and Commerce (MEIC) plus registered as taxpayers.

Possibility of Resigning
The law also establishes a period of 24 months for the legal representatives of the companies unilaterally to these without having to record the event in the official books of the company, in case you have no connection whatsoever with this.

May do so by filing a disclaimer in the company’s legal domicile, which must be submitted by a notary with the Registry.

For the Minister of Justice, it will benefit the people who put their names to form partnerships that were created with the sole purpose of selling them later.

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From Revista Summa

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