Costa Rica Proposes Reforms to Simplified Taxation Regime; Public Consultation Open Until June 6

• Costa Rican Ministry of Finance announced a consultation on a draft decree to reform the simplified taxation regime.
• The draft includes amending requirements for accessing the regime for specified taxpayers.
• It specifies methods for calculating income tax and VAT based on quarterly purchases.
• Covered taxpayers would be released from seller invoice requirements.
• Establishes voluntary and mandatory registration procedures.
• Disallows tax credits for taxpayers transferring to the general regime, except for voluntary transfers.
• The decree would take effect upon publication.
• Comments are due by June 6.

Source: news.bloombergtax.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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