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COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

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Taxes

Have you received a FATCA letter?

Many U.S. expatriate taxpayers are receiving “FATCA” letters from offshore banks around the world. Here's what you need to know.

Costa Rica ponders tax on fast food, soft drinks

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.

Collection of ‘marchamo,’ vehicle circulation fee, starts Monday

Vehicle owners in Costa Rica can find out exactly how much they owe for the yearly circulation permit, "marchamo," starting Monday on the INS website, by text or by calling a toll free number.

Lawmakers propose increase in exit tax to fund Costa Rica’s Olympic athletes

Lawmakers of the Legislative Commission on Childhood, Adolescence and Youth in a unanimous vote on Tuesday approved the drafting of a bill to increase from $29 to $33 the country's exit tax in order to provide funds for the National Olympic Committee.

Airbnb v. Uber: Sharing economy gets a mixed reception in Costa Rica

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.

Finance Ministry could lower Costa Rica income tax brackets

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.

New online tax filing system in Costa Rica starts in October

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.

Costa Rica to reach population of 5 million by 2018

Costa Rica will reach a population of 5 million by 2018, according to estimates from the National Statistics and Census Institute (INEC). INEC and Casa Presidencial warned that there are some growing pains ahead for the country as it approaches.

Record Number of Americans Renounce Citizenship Amid Tax Compliance Pressure

WASHINGTON D.C. — More Americans living outside the United States gave up their citizenship in the first quarter of 2015 than ever before, according...

US taxes are due April 15, are you ready?

The FBAR, Report of Foreign Bank and Financial Accounts, has to be filed if you have more than $10,000 in foreign financial accounts.

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