Thursday, November 21, 2019

Tax Deadlines Coming Up in Costa Rica

Many tax deadlines are coming up in December and January. These include the informative declaration, VAT, luxury home, rent, and vehicle taxes. There are already long lines everywhere you can pay the right of circulation, or “marchamo.”

There are a total of eight instalments of tax returns and tax payments with significant penalties for noncompliance. The first is the informative declaration which must be submitted by December 2. This is with the D-151 form that is for reporting customers, purchases, sales, suppliers, and expenses.

Sales and rentals of homes and apartments, as well as commissions and professional services, have to be declared by both the provider and the person receiving the service if the amount paid or received is over ₡50,000 to or from the same person.

If you have any of the following forms, note that they have deadlines in the next two months: D-151, D-104, D-103, D-152, D-179, D-180. Heavy fines are incurred for turning them in late or failing to turn them in.

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