2025 is fast approaching, bringing with it the tax and administrative obligations that businesses and property owners in Costa Rica must meet. At ERP Lawyers, we aim to help you comply with these requirements to avoid penalties and keep your operations in order.
-
Income Tax
- Deadline: January 1 to March 15
- Based on the calculation of net profit, individuals and companies must pay the tax according to different tax scales, which are updated annually.
- Consequences of Non-Compliance: Fines and interest on overdue payments (as with any debt).
-
Corporate Tax
- Deadline: January 1 to January 31
- Paid by all commercial companies. The tax has various rates, ranging from ¢69,330 to ¢231,100, depending on the gross income declared by the company in the previous year.
- Consequences of Non-Compliance: Fines, restrictions on public registry procedures, and state contracts.
-
Transparency and Final Beneficiaries Registry (RTBF)
- Deadline: April 1 to April 30 (tentative)
- This must be done by all company owners during April each year, although extensions may be granted. For new companies, the deadline is within 20 business days of registration or the issuance of a legal entity ID by the National Registry. Extraordinary declarations are also required throughout the year for special conditions, such as when ownership changes and a shareholder reaches or exceeds 15% of the total capital.
- Consequences of Non-Compliance: A fine of 2% of the previous year’s gross income, with a minimum of three and a maximum of 100 base salaries.
-
Education and Culture Stamp
- Deadline: February 1 to March 31
- All companies must pay the education and culture stamp, which ranges from ¢5,000 to ¢18,000, depending on the declared net capital.
- Consequences of Non-Compliance: Late payment incurs interest at a 10% annual rate, along with a 1% monthly penalty on the overdue amount, up to a maximum of 20%. This could also prevent administrative procedures.
-
Inactive Company Declaration
- Deadline: January 1 to April 30
- Inactive companies in Costa Rica, i.e., those that do not engage in profitable activities, must submit an annual financial statement detailing assets, liabilities, and equity. This replaces the income tax declaration for active companies.
- Consequences of Non-Compliance: The tax authority may charge the corporate tax and impose a fine of at least 10 base salaries for non-compliance.
-
Annual General Meeting
- Deadline: Three months after the fiscal year-end, January 1 to March 31
- During this meeting, the company’s performance is discussed, dividends are agreed upon if any, and administrators may be appointed or removed.
- Consequences of Non-Compliance: Shareholders may demand the meeting or exercise their right of withdrawal.
-
Real Estate Value Declaration
- Deadline: Every 5 years or when acquiring a property
- All property owners must declare the purchase value of their real estate to the municipality where the property is located.
- Consequences of Non-Compliance: A fine equal to the unpaid amount.
-
Luxury Home Tax
- Deadline: January 1 to January 15
- Property owners of homes valued over ¢145 million must pay the Solidarity Tax, which ranges from 0.25% to 0.55% of the total value of the property (including both the land and the construction).
- Consequences of Non-Compliance: Interest and penalties.
-
Vehicle Property Tax (Marchamo)
- Deadline: November 1 to December 31
- This is the payment for the following year (2026).
- Consequences of Non-Compliance: Prohibition of circulation and fines.
-
Real Estate Property Tax
- Deadline: Annually (January 1 to December 31). Payment can be made in one lump sum or in two semi-annual or four quarterly installments. Municipalities may offer incentives for early payment, up to an amount equal to the passive base rate of the Central Bank at the time of payment.
- The tax rate is uniform, regardless of property location, and is 0.25% of the property’s value as assessed.
- Consequences of Non-Compliance: Municipalities can require payment through legal action if the owner refuses to pay administratively.
At ERP Lawyers, we offer specialized advice to ensure your business or assets comply with all regulations. Our team is ready to assist you at every stage of the process.
Contact us today to avoid penalties and ensure a smooth 2025!
