Corporation Tax 2017 payments can be made now
The corporation tax 2017 payments can be made now. If you own a corporation in Costa Rica, you have to pay corporation tax.
All information given in this article was changed, several times, by the Costa Rican Tax Office. For up to date information (made on 2/22/2018) go to the November 2017 Update Corporation tax and form D140.
In Spanish, this tax is called “Impuesto a las Personas Jurídicas”.
Legislators didn’t make it easy for us this time. It took me weeks to figure out what was going on, the reason for this late article. I apologize for this. I can’t believe the government of Costa Rica gives us only one month to figure these Corporation Tax 2017 payments out. I’m pretty sure they don’t know there are thousands of property owners who do not live in Costa Rica.
A couple of important details on the Corporation Tax 2017 payments are:
- The National Registry is not in charge of the corporation tax anymore. The Finance Ministry is in charge of the Corporation Tax from now on.
- Consult if your corporation is active or inactive now on the Finance Ministry’s website. See in the images below how to search and what to look for.
- We have found some corporations show on the Finance Ministry’s website as not having anything pending. If that’s the case, visit the nearest Tax office to consult.
- Filing your inactive corporation with form D-140 is mandatory. There are substantial penalties for failing to file Form D140 in accordance with the law. Find out the latest information on this other blog.
Make your Corporation Tax 2017 payments in person or online through the following collecting agencies. If you have the name and corporate ID number of the corporation you want to make payment for, just go to any of the institutions below and ask them how much you should pay.
• BAC San José
• Banco de Costa Rica
• Banco BCT
• Banco Nacional
• Grupo Mutual Alajuela
• Cruz Roja Costarricense
• Tiendas Ekono
The period of the Corporation Tax 2017 is from September 1 to December 31, 2017. The Corporation Tax 2017 payments cancel the proportion of the validity of the law, which is equivalent to 4 months and the minimum rate is 15% of a base salary.
For those legal entities that are constituted and registered during the fiscal period, they must pay the proportion of the Tax to legal entities equivalent to the date of presentation of the deed to the Registry and the end of the period.
The payment for this period must be made within the 30 calendar days following the entry into force, which begins on September 1, 2017, and expires on October 2, 2017.
All corporations registered as inactive have to pay (15% over Salario base 2017: ¢ 426.200) ¢21,368 or around $38
All corporations registered as active but have no activity have to pay (25% over Salario base 2017: ¢ 426.200) ¢35,614 or around $61
If you don’t pay the pending tax 2017 by October 2nd, a 1% fine per month will be charged.
Those corporations that owe the corporation tax since 2012, will be closed by the Costa Rican government. If you have a corporation that owns property and it has been closed, contact your lawyer.
How to calculate
15% of a base salary
Corporations registered in the Registry of Legal Entities of the National Registry enrolled in the RUT (Inactive)
Corporations that file income tax
25% of a base salary
All taxpayers that pay income tax in the traditional regime with a gross income less than 120 base salaries on their immediate income tax return. As well as those that are in the simplified tax regime.
30% of a base salary
The taxpayers that pay income tax with gross income between 120 and less than 280 base wages on their previous immediate income tax return.
50% of a base salary
Taxpayers in the income tax with gross income higher than 280 base salaries on their previous immediate income tax return.
2018 and following years
Unless the government again invents something new on the Corporation Tax, the calculations will be as follows:
Payment must be made within the first 30 calendar days following the January 1 of each year, considering the current base salary, see here.
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