DON´T FORGET TO PAY YOUR JANUARY TAXES

Read on to make sure you are complying!

As established under the Tax Reform approved at the end of 2018 (“Ley de Fortalecimiento de las Finanzas Públicas”, N.° 9.635), Taxpayers have multiple deadlines to comply with in January 2022. As follows a summary of the most important obligations:

  • January 17th: Monthly VAT Declaration

Every month, physical and juridical persons that sell goods or provide services must declare and pay the Value Added Tax (“VAT”). This must be done within the first 15 days of the following month. That is, the Taxpayer had until January 17 (since January 15 fall on a Saturday) to declare and pay the VAT corresponding to December 2021.

  • January 17th: Tax on ‘Luxury Houses’

Owners of homes or apartments whose construction value exceeds ¢137 million must pay the Solidarity Tax for the Strengthening of Housing Programs (“Impuesto Solidario para el Fortalecimiento de Programas de Vivienda”), no later than January 17th.

2022 is also the year in which Owners need to update the self-declaration of the property before the Ministry of Finance, which is done every three (3) years.

  • January 31st: Corporate Tax

All corporations, no matter if active or inactive, must pay the yearly corporate tax (“Impuesto a las Personas Jurídicas”) by the end of January of each year.

The amount of the Tax is established by the Tax Administration based on the gross income of the corporation. For this year, the minimum amount to be paid is ¢69.330 and the deadline is January 31st.

  • January 31st – March 31st: Property Tax

Property Owners, no matter the value of their land or the building, have also the obligation to pay the so called “Property Tax” before the Municipality. The payment can be subdivided in four (4) trimestral payments or done for the total annual amount.

If possible, it is recommended to proceed with the payment of the full amount by the end of January, even though Taxpayers have in theory time until the end of the first trimester (that is, until March 31st).

CRIBO´s accounting team can help you verify and fulfill all your tax obligations. Reach out to us to make sure you are complying and to receive help with the payments: contact@cribo.cr

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