Taxation in Costa Rica

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This Monday, January 15 is the deadline for owners of luxury houses in Costa Rica to pay the “Impuesto Solidario” (Solidarity Tax) without fines.

Stung by a debt downgrade and company firings, Costa Rica’s new government is seeking to bolster its finances by targeting tax evasion in the $50 billion economy, Finance Minister Helio Fallas said.

Costa Rica will delay plans to raise taxes by a year until 2017 as President Luis Guillermo Solis struggles to win support for measures to narrow a widening fiscal deficit, the head of the legislature’s Finance Committee said.

SAN JOSE (Reuters) – A centre-left former diplomat who has emerged as the surprise leader of Costa Rica’s presidential race vows if he wins a runoff vote to prepare the ground for eventual tax hikes seen as crucial to preserving the credit rating of Central America’s No. 2 economy.

Costa Rica News – Many people have come to Costa Rica to start their own businesses and have generated wealth form doing so. Being financial transparent and opening up your books is now becoming a requirement for many of these business owners’ home countries, including the USA.

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