BLP – TAX NEWS ONLINE MARCH, 2018

GAZETTE SUMMARY

Costa Rica

–February 2018–

EXECUTIVE DECREES

Update of the single tax by fuel type

The Tax Authorities updated the amounts of the single tax by fuel type, as follows:

Fuel Type Tax (colones)
Regular Gasoline 241,25
“Super” Gasoline 252,75
Diesel 142,75
Asphalt 49,00
Asphaltic emulsion 36,75
Bunker Fuel 23,25
LPG 49,00
Jet Fuel A1 144,75
Av Gas 241,25
Kerosene 68,75
Heavy Diesel 47,00
Heavy naphtha 34,75
Light naphtha 34,75

In force from February 1°, 2018  

(Executive Decree No. 40858-H of January 10 published in the Digital Appendix No. 21 on January 31, 2018 )

 

ADMINISTRATIVE RESOLUTIONS

Update of the specific tax on alcoholic beverages

The amounts of the specific tax were updated for each milliliter of absolute alcohol, on alcoholic beverages, domestically produced or imported, as follows:

Alcohol Percentage per volume Tax (colones per milliliter of absolute alcohol)
Up to 15% 3,29
More than 15% and up to 30% 3,94
More than 30% 4,58

In force as of February 1°, 2018 

(Resolution No. RES-DGH-001-2018 of January 8°, 2018, published in the Digital Appendix No. 21 on January 31, 2018)

Amount exempt from Property Tax

Per resolution No. RES-DGH-ONT-001-2018 it was established that for individuals with only one property, of a value not exceeding ₡19,395,000, the real estate tax will be exempted.

This exemption does not apply to corporations.

(Published on the National Gazette No. 19 on February 01, 2018)

Provision of tax information

Costa Rica approved the Convention on Mutual Administrative Assistance in Tax Matters, which establishes in Article 6, called “Automatic Information Exchange”, which states that parties will exchange any information that is foreseeably relevant for the administration and application of its local regulations, in relation to the taxes covered by the Convention.

Additionally, Costa Rica signed the Multilateral Agreement between Competent Authorities on the country by country report, which establishes the implementation of the “The standards for Automatic Exchange of Information between related parties ” or “Country by Country Report”, (CbC), which indicates that companies resident in Costa Rican territory, which have the status of dominants of a business group, and are not at the same time dependent on another company, resident or non-resident, must provide the information foreseeably relevant for tax purposes.

Through Resolution, the Tax Administration established which are the companies or entities that are required to provide information, for the country-by-country report and the notification that must be made to the Administration. Likewise, it was established that the information of the country-by-country report must be presented in the “XLM” format, no later than December 31, 2018.

(Published on the National Gazette No. 20 on February 02, 2018.)

Exonet System

All the taxpayers processing exemptions before the Exemption Management Department of the Ministry of Finance, must do so through the EXONET System. The Administration created a “Manual and beneficiary guide for the EXONET system”, which is on the official website of the Ministry of Finance: http://www.hacienda.go.cr/contenido/12516-gestion-para-exoneraciones.

(Published on the National Gazette No. 25, on February 09, 2018.)

Procedure for eliminating or reducing advance Income Tax payments

According to resolution DGT-R-007-2018, the request for eliminating advanced Income Tax payments proceeds only in the case that the taxpayer foresees losses, for the current fiscal period; also the request for a decrease proceeds only when the basis for the calculation of the payment is affected by extraordinary income and by eliminating the effect of such income, payment basis must be recalculated producing a lower one. The request must be motivated and accompanied by the respective calculations.

(Published on the National Gazette No. 34 on February 22, 2018)

TAx OBLIGATIONS FOR MARCH 2018

Date Type of Tax Return
12 –      D-150 Annual Return: Summary of payments or withholdings made on account of the Income Tax.

–        D-155 Monthly statement of summary of withholdings payment on account sales tax and income tax

14 –      D-113 Income Tax and Capital Gains from investment funds

 

15 –      D-103: Withholding Tax

–      D-104: General Sales Tax, traditional regime.

–      D-106 Excise Taxes.

–      D-107: Casinos Tax.

–      D-114: Single tax per fuel type.

–      D-117: Specific tax on alcoholic beverages

–      D-171: Specific tax on non-alcoholic bottled beverages and toilet soaps.

–      Tax on Tobacco products

28 –      Income tax advance payment.

–      Tax stamp for culture and education.

tax relevant information

Current 2018 Base Salary ¢431.000
Current Interest Rate (October 1,2017) 12.80%
Reference Exchange Rate – BCCR USD

(February 28, 2018)

Purchase: ¢567.12
Sale: ¢572.82