The deadline for compliance with this important tax for the 2024 calendar is January 31. Failure to pay can result in fines and penalties.
What is it, and who must comply with this obligation?
The tax year begins with the payment of the Corporate Income Tax in accordance with Law No. 9428; this provision outlines the scope, form, and payment deadline, as well as possible sanctions and fines, and other important features for settling this fee. The regulation applies to commercial companies, branches of foreign companies or their representatives, and individual companies of limited liability registered in the National Registry.
What is the fee scale for 2024?
The amounts to be paid are proportional to each company’s annual income, divided into four categories. In the first category are those with no income or economic activity, and they must pay ¢69,330.00 ($134 approx); secondly, those whose gross income is less than ¢55,464,000.00 and must pay ¢115,550.00 ($223 approx); then those with gross income less than ¢129,416,000.00 and must settle ¢138,660.00 ($268 approx); finally, companies with gross income greater than 280 base salaries have an obligation to pay ¢231,100.00 ($446 approx).
What are the consequences of not paying the Corporate Income Tax?
Failure to comply with this tax on time has consequences, resulting in fines and penalties (which may include interest charges), as mentioned in Article No. 5 of the law. Firstly, the National Registry will be unable to issue legal personality certifications, literal society certifications, or register any documents in favor of the taxpayer due to non-payment, causing significant obstacles to the natural development of the company. Secondly, they cannot enter into contracts with the State or any public institution. Thirdly, if the payment is omitted for three consecutive periods, it can lead to the dissolution of the commercial company, the individual limited liability company, or the branch of a foreign company or its representative.
If you are subject to this resolution and are located abroad, do not hesitate to contact ERP. We can help you manage the payment in Costa Rican colones.
