Corporations in Costa Rica Fail to Pay Taxes

According to the National Registry, approximately 80 percent of corporations in Costa Rica failed to pay their corporations tax. This resulted in a deficit of 14.9 billion colones. Currently, there are 542,000 registered corporations in Costa Rica; however, less than 117,000 of those corporations paid taxes by the due date of February 2.

The decline in payments can likely be attributed to a recent decision by the Constitutional Court that declared the tax law to be unconstitutional. While this could contribute to the large number of corporations failing to pay the tax, the National Registry also indicates that over the past year, only 50,000 fewer corporations failed to pay their taxes.
Continued Problems with Corporations Not Paying Taxes
Only about 40 percent of corporations have paid the taxes since it was created in 2011, according to the Banco de Costa Rica. The Deputy Minister of Finance has gone on record as state that despite the recent court ruling, corporations are not exonerated from paying the 2015 tax and that a daily fine of ¢94 will apply.

Tax experts content that the tax is no longer applicable that that the Ministry of Finance may not demand corporations pay the tax or apply penalties for arrears or late payments.

John Wieland

John currently believes that this is the best time in history to being a buyer in Costa Rica. He studies global markets and the flow of funds meticulously and is seeing an upswing. He is currently working with Haute Living Magazine to promote a higher quality of luxury homes to discerning clientele throughout the US. He is rigorous in his pursuit to expand such marketing efforts and visits prominent markets like Los Angeles, Miami, New York and more to build upon his network of affluent brokers. As the President of Coldwell Banker Costa Rica’s nine offices, his #1 Priority for his franchisees’ is training. With an ever-changing industry, he carefully reviews the performance of each office and is committed to helping each succeed. He is committed to growing the brand in Costa Rica from nine offices by implementing systems and a useful business tools that brings all the offices together. A visionary and consummate professional, John saw the benefit of starting an alliance amongst other brokerages and in 2008, spearheaded Southern Pacific Alliance of Realtors (SPAR). Although this may be his most challenging work, the sustainability of this business model has already proven to be a tremendous success and benefit for the area brokers. He has built networks spanning multiple countries and is committed to providing the highest level of client service. John, a self-proclaimed wine snob, currently resides in Playa Uvita where he often chooses wine from his hidden stash while his wife prepares something fantastic to pair with it. They continue to travel and visited Spain and Germany and also enjoyed a trip to visit family in California & Arizona. He has purchased a couple properties this year and has plans to build their family home next year in Ballena. An avid golfer, he was able to tick off Torrey Pines in San Diego and PGA Championship in Palm Beach from his bucket list. He is currently reading such books like “The One Thing”, “Business Adventures”, “Tomorrow’s Gold” and “The Clipper Ship Strategy” while also finding time to play the guitar for his wife and daughter.” Keep an eye for his new love of writing on his blog and other various industry platforms.