Other countries are outpacing Costa Rica when it comes to improving the ease of doing business, according to a press release from the World Bank. The World Bank's 2015 Doing Business report ranked Costa Rica 83rd out of 189 economies in the world for ease of doing business – down five spots from 2014 due in part to an adjustment of the annual study’s methodology.
Employees whose gross monthly income is less than ₡793,000 ($1,455) will be exempt from paying income tax, according to the latest update for the fiscal year 2015 approved by the Finance Ministry last week.
President Luis Guillermo Solís addressed the nation Sunday evening in a televised speech urging lawmakers to keep his proposed 2015 budget largely intact as a general strike by public sector unions against budget cuts loomed Monday.
Representatives of the Costa Rican Restaurants Chamber warned this week that restaurant owners could face liquidity problems due to a 2 percent charge that banks will assess on all dining payments made with credit and debit cards.
Costa Rica’s GDP growth for 2015 is forecast at 4.3 percent, up from 3.7 percent in 2014. While Costa Rica outperformed many of its Central American neighbors, Nicaragua and Panama are set to pull ahead in 2015 with 4.4 and 6.2 percent growth, respectively.
Costa Ricans earning big bucks abroad should take note. Addressing the nation from New York on Sunday evening, President Luis Guillermo Solís announced two new taxes to improve the country's fiscal revenues, including a global income tax.
President Luis Guillermo Solís told representatives from the Costa Rican Banking Association that Moody’s Investor Services' decision to drop Costa Rica’s investment rating to junk status was not a crisis and urged calm during a meeting Wednesday morning. As the public sector tries to hash out how its weakened standing will affect the budget, consumers may have to pay more for loans in dollars.
Pineapple is one of Costa Rica's fastest-growing and most lucrative agricultural exports. And with China's market on the horizon, export numbers could soon double. Is the country ready for that?
