The cost of doing business in Costa Rica is getting a bit more expensive as the national economy adjusts to inflation. For the year 2015, the corporate tax (fee) on active domestic and foreign business entities such as sociedades anonimas (S.A.) and the simpler responsabilidad limitada (S.R.L) has been set at 201,700 colones (about $375 at today’s currency exchange rate). Inactive business entities must pay 100,850 colones (about $189).

 

The above was reported by Andrea Rodriguez Valverde of business weekly El Financiero. The fees above are set based on the average salary of a legal assistant employed by the Judiciary in Costa Rica (about $755 per month). The same basis is utilized to set fines for non-compliance. For example, should an active business entity in Costa Rica fail to pay the annual corporate tax, the fine applied will be equal to 50 percent of the aforementioned average salary (about $378). Inactive companies could be subject to a 25 percent fine (about $189).

 

The payments should be made to Tributacion Directa, the revenue collection authority of Costa Rica. Payment is due on January 31^st, 2015. Payments made after that date will be subject to a 13.30 percent penalty for late compliance.

 

In Costa Rica, business entities are often formed to ease the real estate transfer and immigration processes. Due to a law enacted in 2012, companies that have not made the above-mentioned payments will not be able to obtain certain corporate services such as registrations and certifications. Companies that have not tendered payment since the law was enacted will be summarily dissolved next year. Payments can be made online or in person at Banco de Costa Rica (BCR).