No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveRoller-Coaster Year For Fiscal Reform

Roller-Coaster Year For Fiscal Reform

After five years of discussion, the controversial tax plan pushed by then-President Abel Pacheco (2002-2006) flopped in March after the Constitutional Chamber of the Supreme Court (Sala IV) ruled that the legislation was approved unconstitutionally.

New President Oscar Arias, who took power in May, tried to breathe new life into the legislation that lay dead for months and began sending parts of its nine-part tax plan to the legislative assembly in August.

By year’s end, three parts of the tax plan had arrived in the Legislative Assembly: a $200 tax on licensed businesses, a valueadded tax, and a tax on “luxury homes” meant to help eradicate shantytowns.

Other projects that remained to be sent to the assembly included an income tax; reform that would eliminate tax collection loopholes; a controversial 0.5% tax on financial transactions; a tax on so-called “free zones;” a reform that would redefine taxpayer rights and responsibilities; and a project to make more transparent how tax money is spent.

 

Trending Now

El Salvador Fires School Leaders After Bukele Shares Gang Video

The Minister of Education ordered the dismissal of the director and deputy director of a public institute shown in a video shared by President...

Costa Rica Unveils Plans for Maximum-Security Prison

Costa Rica will soon be home to a new high-security prison designed specifically to house our country’s most dangerous inmates. At a weekly press...

Outrage in Costa Rica After Man Suspected of Killing 14 Dogs Is Released

A man identified by the surnames Ulloa Bustos, suspected of killing at least 14 dogs in the rural town of Pocora, was released after...

Former Costa Rican President Miguel Ángel Rodríguez Faces Trial

Miguel Ángel Rodríguez, who served as Costa Rica’s president from 1998 to 2002, returned to court on today, to face charges in the so-called...

Costa Rica’s Role in US Deportation Drama with Salvadoran Migrant

A Salvadoran man at the center of a heated US immigration battle could end up in Costa Rica if he accepts a guilty plea,...

JetBlue Ramps Up Boston Flights to Guanacaste, Costa Rica

Guanacaste Airport, part of the VINCI Airports group, and the Costa Rican Tourism Institute (ICT) have shared news of more JetBlue flights coming from...
Avatar
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica