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Luxury Tax 2020

 

Due: January 15 of each year.

The Luxury Tax (Solidarity Tax for the Strengthening of Housing Programs) only applies to houses, condos, or apartments over a certain construction value (133,148,400.00 colones for 2020, approx. US $237,765K – this amount is adjusted each year).

Amount: The amount of tax to be paid is on a scale from 0.25% to 0.55% per year, depending on the value of the property. This tax is due for all applicable properties from 2019 and forward.
Those liable for this tax shall fill out the form called “Formulario Único de Inscripción, Declaración y Pago Impuesto Solidario para el Fortalecimiento de Programas de Vivienda, Ley 8683” every 3 years. Next time to file it will be on or before January 15th, 2022, as the previous one was on January 15, 2019. The Tax Office publishes the parameters to apply for the following year sometime in late December each year.

Credit to: GM Attorneys, a premium boutique Law Firm with offices in Flamingo Beach, Tamarindo, Nosara and San Jose.

As we have discussed in previous articles, there are numerous taxes that are paid throughout the fiscal year. To ensure you do not incur any penalties or fines, it is important all applicable annual taxes are paid on time. If you have any questions, please don’t hesitate to contact us at info@gmattorneyscr.com

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It’s annual Tax Time

Like in other global markets, Costa Rica also has its share of annual taxes. This article will be discussing the annual taxes due for anyone who is an owner of real estate or has a Costa Rican corporation. Not all taxes are applicable to everyone. We will discuss each type below.

 

Luxury Tax

Due: January 15 of each year.

The Luxury Tax (Solidarity Tax for the Strengthening of Housing Programs) only applies to houses, condos, or apartments over a certain construction value(131,000,000.00 colones in 2019, approx. US $232K – this amount is adjusted each year). The amount for 2020 will be available in December and we will update this article with the 2020 amount.

 

Annual Corporation Tax

Due: January 31stof each year.

All corporations, subsidiaries, and limited liability companies that are currently registered before the National Registry will be subject to pay an annual tax. (Law # 9428: “Tax over legal entities”)

NOTE: The “annual corporate tax” is aside from the VAT Tax, or Income Tax, the corporation is subject to those indicated in the event the corporation is active and is registered as a tax payer.

 

Property Tax & Garbage Collection

Due: March 31stof each year.

Property owners must pay Property Tax (Impuestos Bienes Inmuebles) and garbage collection fee (recolección basura) to the Municipal Government where the property is located.

The garbage collection fee is a fixed amount, adjusted yearly, that must be collected along with the property taxes. The municipality determines the fee based on location and on whether the property is used for residential or commercial purposes.

As we have discussed in previous articles, there are numerous taxes that are paid throughout the fiscal year. To ensure you do not incur any penalties or fines, it is important all applicable annual taxes are paid on time. If you have any questions, please don’t hesitate to contact us at info@gmattorneyscr.com

Credit to: GM Attorneys, a premium boutique Law Firm with offices in Flamingo Beach, Tamarindo, Nosara and San Jose.

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Mark Venegas retired, 11 years at ABC

 

 

Friends and colleagues, this is to inform you that Mark Venegas decided to retire from selling Real Estate. After working with the ABC Team for 11 years he is ready to pursue a new project in his life. We are very sorry to see him leave and are grateful for being able to call him part of our company over such a long time. His trustworthiness and reliability was valued by customers and coworkers alike. He was not only appreciated as an agent but also as a friend that he became over time. We will definitely miss him at ABC but what will stay are the memories of good times over all those years. We wish him all the best for his new stage in life.

Mark: “After contemplating this decision for a while, I have decided to retire from selling Real Estate. It is time to move on to something new. It has been an interesting, and I believe, productive 11 years working in Real Estate. With all of the ups and downs that come with any job, the most satisfying aspect I will take with me is having met so many great people and making new friends. I am eternally grateful to Jogi and Verena for giving me this opportunity to work with ABC Real Estate. They have always maintained high ethical standards and I am privileged to have met them.”

Jogi & Verena: “We are very sorry that you are leaving but understand your decision moving forward into another stage of life. It was a real pleasure having you at ABC. Your trustworthiness and reliability is extraordinary. Not only the customers but the whole ABC team profited from it. Your friendly and firm way of communication added the special positive touch, we all have great memories about these wonderful 11 years with you. All the best and keep in touch.”

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What about schools?

 

Escuelas, Schulen, Ecoles, Scuole, Escolas

This is one of the most frequently asked questions made by our clients interested in purchasing real estate in the Tamarindo / Gold Coast area who want to move the family. We get it, as a parent making the decision to move to another country, schools are a top priority. Luckily nowadays the Tamarindo area has the best selection outside of the capital city.Whether you are looking for a smaller school that can accommodate to your schedule or a more rigorous lesson plan, there are many options to choose from, each of which provide a different yet rewarding education.

Not only will your children receive a quality education, they will also be able to learn another language, experience new cultures and make friends with other students from all over the world. An amazing gift a parent can give to their child in this growing multicultural world. We are proud to have such great options available.

Click on the links below for more information on each of the respective schools.

CRIA

A U.S. accredited college preparatory school serving a diverse international community.

LA PAZ COMMUNITY SCHOOL

International bilingual private school with a curriculum based on International Baccalaureate

EDUCARTE

Spanish and English bilingual school accredited by MEP (Ministerio de Educacion Publica – Ministry of Public Education)

TIDE ACADEMY

Offering long and short-term programs for students or online curriculum as an alternative for students with non-traditional lifestyles. Accreditation through partnership schools Global Village School or Northern Atlantic Regional High School

GUANACASTE WALDORF SCHOOL

Bilingual school based on the Waldorf curriculum in a natural setting

JOURNEY SCHOOL TAMARINDO

Bilingual school based on project based learning