Costa Rica Corporation Blog

New tax filing requirements

July 18, 2024

The Costa Rican Tax Administration (Tributación Directa) has announced new tax filing requirements for corporations, effective for the 2023 tax year.

New requirements include:

Electronic filing: All corporations must now file their tax returns electronically. This can be done through the Tributación Directa website.

Quarterly tax payments: Corporations must now make quarterly tax payments on account of their estimated annual income tax liability. The first payment is due on March 31, the second on June 30, the third on September 30, and the fourth on December 31.

New tax forms: Tributación Directa has introduced new tax forms for corporations, which must be used for the 2023 tax year. The new forms are available on the Tributación Directa website.

Other important tax filing requirements for Costa Rica corporations include:

Annual tax return: Corporations must file an annual tax return within two and a half months of the end of their fiscal year.

Income tax: Corporations are taxed on their worldwide income at a rate of 30%. However, there are a number of deductions and exemptions available.

Value-added tax (VAT): Corporations must register for VAT if their annual gross sales exceed CRC122,145,000 (approximately US$204,611). The VAT rate is 13%.

Other taxes: Corporations may also be subject to other taxes, such as the social security tax and the capital gains tax.

Corporations that fail to comply with the new tax filing requirements may be subject to penalties.

It is important to note that these are just a summary of the new tax filing requirements for Costa Rica corporations. For more detailed information, please consult the Tributación Directa website or consult with a qualified tax advisor.

Digital Nomad

March 11, 2024

Digital nomads working in a co-working space in Costa Rica

Costa Rica is a popular destination for digital nomads, thanks to its stunning natural beauty, laid-back lifestyle, and affordable cost of living. In 2022, Costa Rica passed a new law that allows digital nomads to stay in the country for up to one year on a special visa, and to renew their visa for an additional year.

To qualify for a digital nomad visa in Costa Rica, you must meet the following requirements:

You must be a citizen of a country that has a visa waiver agreement with Costa Rica.

You must have a valid passport and a return ticket.

You must have a monthly income of at least $3,000 USD if you are applying alone, or $4,000 USD if you are applying with dependents.

You must have health insurance that covers you in Costa Rica.

You can apply for a digital nomad visa online through the Costa Rican Directorate General of Immigration and Migration.

Once you have your digital nomad visa, you can enjoy all that Costa Rica has to offer, including:

Stunning natural beauty: Costa Rica is home to lush rainforests, pristine beaches, and towering volcanoes.

Laid-back lifestyle: Costa Ricans are known for their friendly and relaxed way of life.

Affordable cost of living: Costa Rica is a relatively affordable country to live in, especially compared to other popular digital nomad destinations.

Good internet connectivity: Costa Rica has good internet connectivity, making it easy to stay connected with work and friends and family back home.

Thriving digital nomad community: Costa Rica has a large and growing community of digital nomads, so you're sure to meet other people who are working remotely.

Popular destinations for digital nomads in Costa Rica include:

San José: Costa Rica's capital city is home to a variety of co-working spaces and tech startups.

La Fortuna: This town is located near the Arenal Volcano and is a popular base for hiking, biking, and other outdoor activities.

Santa Teresa: This beach town on the Nicoya Peninsula is known for its laid-back vibe and excellent surfing.

Playa Tamarindo: This beach town is more developed than Santa Teresa and offers a variety of restaurants, shops, and bars.

Manuel Antonio: This coastal town is located near Manuel Antonio National Park, which is home to a variety of wildlife, including monkeys, sloths, and toucans.

No matter where you choose to live in Costa Rica, you're sure to have a great experience as a digital nomad.

Deadline for Transparency and Final Beneficiaries Registry

January 16, 2025

The deadline for the Transparency and Final Beneficiaries Registry (RTBF) in Costa Rica is April 30th of each year. This applies to all legal entities, including corporations, trusts, and non-profit organizations.

If a legal entity is incorporated after April 30th, it must file an extraordinary declaration within 20 business days of its incorporation.

The RTBF is a database that contains information about the beneficial owners of legal entities. It is intended to help combat corruption and tax evasion.

To file the RTBF, legal entities must submit a declaration to the Central Bank of Costa Rica. The declaration must include the following information about the beneficial owners:

Name

Date of birth

Nationality

Country of residence

Percentage of ownership or control

The Central Bank of Costa Rica will keep the RTBF confidential, except for certain authorized persons, such as law enforcement and financial institutions.

Failure to file the RTBF on time may result in fines and other penalties.

Here is a summary of the RTBF deadlines:

Annual declaration: April 30th

Extraordinary declaration: Within 20 business days of incorporation

Please note that these deadlines are subject to change, so it is always best to check with the Central Bank of Costa Rica for the latest information.