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Tax information returns extension deadline ends next week

December 1, 2016

The deadline for filing informative tax returns has been extended from Nov. 30 to Dec. 5, and the Finance Ministry is advising taxpayers to do it on time to avoid fines and other problems.

The ministry’s Tax Administration extended the deadline, usually the end of November, due to delays caused by the national emergency for the passage in the country of Hurricane Otto. The government last week declared a national emergency and ordered the closure of most public agencies on Nov. 25 and 25.

“This situation made it impossible to address many people’s inquires related to the filing of electronic forms D-150, D-151, and D-158,” the ministry reported in a news release.

Taxpayers must file their informative returns using the Tax Administration’s Declar@7 software. The program can be downloaded for free from the Finance Ministry’s website.

Those who fail to submit informative returns before the deadline are exposed to fines ranging from 10 to 100 base salaries, equivalent to ₡4.2-₡42 million ($7,475-74,750).

The informative returns do not involve payments. The Tax Administration uses the data to cross-check taxpayers’ information.

Here’s a list of returns due on Monday, Dec. 5.

D-150:

Mandatory for individuals or corporations that hire services from foreign companies with representation in the country, including transportation, communications, insurance, films, international news or other services.

D-151:

Any person or corporation engaged in the buying or selling of goods or services in the annual amount of more than ₡2.5 million (some $4,477) must file this information return to the Tax Administration. People who offer professional services, landlords or those who receive dividends from savings or commissions exceeding ₡50,000 ($90) per year must also file this form.

Francisco Ovares, president of the Costa Rican Public Accountants Association, said that taxpayers only are required to report basic details of the individuals or corporations with whom they had transactions during the fiscal year.

“Basically they should report the individual’s or corporation’s ID number — cédula — and the amounts paid or received,” Ovares said.

D-158:

This form is an informational return for people, private businesses and corporations that host or organize auctions in the agricultural sector. These companies are responsible for providing a report of buyers and sellers participating in such auctions.

 

These are the other tax deadlines coming up in December and January: 

D-101:

This return must report all income and expenses recorded between Oct. 1, 2015 and Sept. 30, 2016. The sanction for not filing the Income Tax return on time is half a base salary, or ₡212,100 ($377).

The information should be submitted online through the Virtual Tax Administration (ATV) online platform on the Finance Ministry’s website.

The deadline for filing and paying the Income Tax is Thursday, Dec. 15.

D-152:

Individuals or corporations that collect Income Tax from their employees must file this informative return by Jan. 15, 2016.

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