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.
Representatives from the government and public-sector unions got together Wednesday in a preliminary meeting to seek an agreement to stop the general strike that has gripped the country since Sept. 10.
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.
Costa Rica's Legislative Committee on Financial Affairs approved a bill to reinstate the country’s corporate tax law, which was ruled unconstitutional in 2015.
Officials from Costa Rica’s Social Security System on Tuesday reported the agency will allocate just over ₡3 trillion ($5.5 billion) of its budget for covering public health care expenses and pension payments in 2016.
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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