• Costa Rica Real Estate

With deadline looming, only 12 percent of Costa Rican businesses have paid corporate tax

January 29, 2014

The deadline set by the National Registry for 545,000 corporations to pay their yearly corporate tax is Jan. 31.

A report issued Tuesday evening indicates that only 11.68 percent of them have paid, according to National Registry Director Dagoberto Sibaja Morales.

A 2012 law established that corporations failing to pay the tax in three consecutive periods will be dissolved and removed from the National Registry.

This year, the agency is preparing to enforce the legislation and collect debts from delinquents of the previous three periods.

Corporations set to be eliminated from the National Registry will have their assets confiscated and auctioned to pay the debt. The agency then will remove the corporation from the registry, Sibaja explained.

For corporations delinquent only in one or two periods, the law stipulates financial penalties for each day of delinquency. It also prohibits obtaining certifications of assets, as well as filing new registration entries.

Active corporations this year must pay ₡199.700 ($399), and inactive ones must pay ₡99.850 ($199). An inactive corporation is one that does not earn a profit. These corporations are commonly used in Costa Rica to hold assets, while an active corporation also registered with the Tax Administration earns income.

Payments only can be made at Bank of Costa Rica’s branches and on its website.

Sibaja on Wednesday said the National Registry is drafting of a document that explains how corporations that have ​​accumulated their third debt period will be removed.

“The document will include detailed steps and procedures the National Registry will conduct to cancel a corporation’s registration. It is not an easy process, is actually very complex, since we must take into account all assets registered under each of the corporations, and we even must confirm whether the shareholders are willing to avoid the closing,” Sibaja said.

The document will be released Thursday and will be published in the National Registry’s website.

Facebook Comments

You may be interested

UN names Costa Rica as ‘Champion of the Earth’ for environmental efforts
Climate Change
52 views
Climate Change
52 views

UN names Costa Rica as ‘Champion of the Earth’ for environmental efforts

Alejandro Zúñiga - September 20, 2019

The United Nations has selected Costa Rica as its 2019 Champions of the Earth award for policy leadership, the organization…

NASA honors Hispanic Heritage Month with Tico astronaut
Space Ticos
53 views
Space Ticos
53 views

NASA honors Hispanic Heritage Month with Tico astronaut

Alejandro Zúñiga - September 20, 2019

Franklin Chang Díaz is a Costa Rican physicist who participated in seven Space Shuttle missions. In honor of Hispanic Heritage…

Government of Guatemala warns that the country has become a cocaine producer
Central America
55 views
Central America
55 views

Government of Guatemala warns that the country has become a cocaine producer

AFP and The Tico Times - September 19, 2019

Guatemala has become a cocaine-producing country and is no longer used just for transit and storage, Interior Minister Enrique Degenhart…

Do NOT follow this link or you will be banned from the site!