The government's ₡9 trillion ($16 billion) budget proposal for 2017 is 12 percent higher than the 2016 budget mostly, the presidency says, because of accumulated debt.
While two of the biggest shopping days – Black Friday and Christmas – are quickly approaching, Costa Rican lawmakers are working to pass legislation that improves controls and consumer protection of e-commerce transactions, an area where the country lags.
Casa Presidencial presented the plan Monday with a proposal to lower interest rates 2 percent and spark GDP growth to 4 percent by the end of next year.
The Solís administration has declared Uber’s service illegal and threatened to fine chauffeurs caught driving passengers, but it has so far ignored Airbnb, a service that allows private citizens to rent out their homes to guests.
Currently some 952,000 workers in Costa Rica are exempt from the income tax but that figure likely would decrease if the Finance Ministry approves lower income brackets used to calculate taxes.
Officials used words like “crisis” and “precarious” to describe the country’s fiscal situation after years of legislative gridlock that have been unable to rein in Costa Rica’s deficit, despite several downgrades from international ratings agencies.
The new online platform, called Virtual Tax Administration (ATV), will be available at the ministry’s website and will replace current software taxpayers are required to install on their computers.
President Luis Guillermo Solís' proposed 2016 budget is 0.5 percent greater than the ₡7.9 trillion ($14.5 billion) 2015 budget, the largest ever in Costa Rican history.
