The due date for this tax is January 31st of each year.
Law 9428: Tax over legal entities.
There will be a fixed fee for inactive corporations and a progressive rate for active corporations depending on their income.
The amounts are from USD $120 -for inactive corporations- up to USD $380 for active corporations (the amounts are adjusted each year).
What happens if I do not pay?
Sanctions and penalties established in the 'Código de Normas y Procedimientos Tributarios' (CR Code of Taxation Rules and Procedures) will apply. Additionally, the National Registry will not issue, certify, or register any documents for the corporations. Furthermore, overdue corporations will not be able to contract with the Government or any public institution.
If the tax is not paid for three consecutive years/periods, the corporation will be dissolved.
The company's legal representative will be jointly and severally liable for both declaring and paying this tax.
The CR Tax Office will create a database that can be consulted electronically so that the public can verify whether tax payments are up to date or outstanding. In the case of corporations that are already defaulting on payments from 2012 to 2015, the National Registry will collect the amount owed and transfer the money to the CR Tax Office.
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Property Tax & Garbage Collection
Due date: March 31st of 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.
Amount: The property tax is 0.25% of the registered value of the property, which is either the purchase price paid or the value assigned by the Tax Office.
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.
This property tax and garbage collection fee can be paid a year in advance or quarterly. However, if paid quarterly, you must pay before the end of each quarter to avoid interest charges. The first quarter of the year ends on March 31stof each year.
Owners must fill out a form to update the value of the real property every five years. Failure to do so can lead to a Municipality assessment and fines to the real estate owner. Please verify the last time you filed the form, in case of any doubt, better verify with the Municipality. The Municipalities are already notifying appraisals and fines for people haven't done the update.
NOTE:
The Municipalidad de Santa Cruz does not always charge both in the same statement and this can cause confusion and problems to owners. The municipality has attributed this to 'lack of updated records and/or to administrative errors within the system'. Therefore, please review your statement carefully to avoid unpleasant surprises.
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
