The Constitutional Chamber of the Supreme Court declared on Friday that the tax reform bill is constitutional. The bill will now go back to congress, where enough legislators have announced their support for the bill for it to pass.
For the first time in history, the Costa Rican Colon surpassed 600 colones per dollar. On Wednesday, some banks were reporting an exchange rate of ₡616 for $1.
The President of Costa Rica made an official statement expressing his willingness to establish a dialogue with the unions.
President Carlos Alvarado urged the Catholic Church and university presidents to serve as mediators in talks with the unions that have been protesting a tax-reform bill since Monday.
The measure aims to attract more cruise ships to the area and boost income for the tourism industry in Costa Rica's central Pacific area.
The Constitutional Chamber of the Supreme Court, or Sala IV, on Wednesday evening ruled three articles of the country's Corporate Tax Law unconstitutional, and as a result, collection will be suspended starting next year. The tax must be paid this year, however, by this Saturday's deadline.
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