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2019 Annual Corporate and Real Estate Property Taxes

taxes costa ricaPROPERTY TAXES & GARBAGE COLLECTION FEE

As a real property and/or CR corporation owner, you should be aware of taxes that need to be paid annually. Those who do not pay may be subject to fines and judicial collection procedures

PROPERTY TAXES & GARBAGE COLLECTION FEE (Due date: March 31st,  2019)

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

Luxury tax

Due Date: January 15th of each year.

The so called “Solidarity Tax” for the Strengthening of Housing Programmes (Impuesto Solidario para el Fortalecimiento de Programas de Vivienda), Law # 8683, commonly referred to as the “Luxury Home Tax” applies to houses, condos and apartments of which construction/building value exceeds a certain amount. Said amount and the methodology to calculate it is established by the Tax Office. The entity or person obliged to file and pay it, is that one that owns the ¨Luxury Home¨ as of January 1st.

 

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ESCROW in Costa Rica

Escrow service

Are you ready to make an offer on your dream home or to purchase a piece of paradise in Costa Rica, and would like the process of transfer and release of funds to follow the same Pura Vida flow as life at the beach in Tamarindo? Surf that wave at ease by trusting your funds to a neutral and reliable third party!

As for any real estate transaction, also in Costa Rica it is highly recommended to use a neutral – Escrow – account to wire the Earnest money deposit as well as the final balance for the purchase of a property. The use of an Escrow account allows for secure transactions and confident buyers and sellers, allowing them both to lay back, relax and keep enjoying as their money will be safe and the release will be secure.

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How can I obtain CR residency?

Costa Rica Residency

I can’t remember how many times I’ve been asked that question. Well if you plan on buying a property here it could be simple.

The Costa Rican government has historically been open to foreigners investing here, so much so that in early 2011, the government published the regulation to the Immigration law that allows for more flexibility in regards to obtaining a Costa Rican residency.
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New corporation tax law, required on all CR corporations.

tax formThe new corporation tax law, 9428, imposes a D-140 registration requirement on any and all CR corporations.

The deadline for submitting the D-140 Form to the Tax Administration depends on the last number of your Corporate ID: (Pursuant to the Regulations to Law No. 9428)

– 1 y 2: before October 31st, 2017.
– 3 y 4: before November 30, 2017.
– 5 y 6: before December 31st, 2017. – 7 y 8: before January 31st, 2018.
– 9 y 0: before February 28, 2018.

Example:
3-101-222222 Must submit the Form before October 31st, 2017.

Form available in the following link: Click Here

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The New Costa Rica Annual Corporation Tax 2017 is in Effect

CostaRicaTaxObligations

The new annual Corporation Tax Law (Ley de Impuesto a las Personas Jurídicas) # 9428 has been approved and published in the official Gazette. That means that you will have to pay Corporation Tax 2017.

The regulations to the law have also been posted on the website of the Costa Rica Department of Revenue in the Spanish language.

When is the tax due?

The corporation tax is due by January 30th of every year. For 2017 the amount will be prorated. It is expected that the Department of the Treasury will start collecting the tax between July and August 2017.

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New Obligations for Real Estate Developers Regarding Future Sales/Presales:

foreign influence

MANDATORY REGISTRATION DUE 3/21 /2014

As a direct consequence of the amendment to the Law on the Promotion of Competition and Effective Consumer Defense (N°7472) of October 5th,2012, Decree 37899-MEIC was published, containing  an integral amendment to the Regulations of such Law; thus modifying a large number of matters, including mandatory registration of real estate developers and obligation to get pre-approval of option and sales contracts, where buyers are required to make payments before completion and delivery of the project/unit (future sales). Registration of Companies responsible for future sales must be completed by Friday, March 21st, 2014. Please see the information below for a description of the new provisions for future sales of Real Estate.

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Helpful Tips on Property Taxes in a Nutshell

Property Taxes

Ley 7509 Impuesto sobre bienes inmuebles

This tax applies to every titled property. Its collection is administered by the local municipality. It represents 0.25% per year of fiscal value recorded in the National Registry. Fiscal values are assigned following the procedures established in the legislation. They can be referenced to the highest sales prices reported, an appraisal performed by the Municipality’s engineer, the value of a mortgage (if applicable) over the property, or a declaration by the contributor.

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New Corporate Tax

New Corporate Taxes in Costa Rica

by: Deloitte.com/cr

As published in the country’s Official Newspaper “La Gaceta” on the 27th of December 2011, a new law has been approved, which will come in to force on the 1st of April 2012, to levy an annual duty on all Public Limited “Sociedades Anonimas” (S.A.) and Limited Companies “Sociedades Limitadas” (S.R.L.). In short, the law implicates a levy or tax on all companies set up in Costa Rica and registered to date in the Companies Registry Office as well as all future new companies.

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