Fulfilling tax obligations is a key aspect of managing your business. In this regard, we want to remind you that the deadline to pay the Education and Culture Tax Stamp (TEC) is March 31.
What is the TEC and who must pay it?
The TEC is an annual tax that must be paid by all commercial companies and subsidiaries of foreign companies registered with the Public Registry of Costa Rica. Its purpose is to fund educational and cultural activities in the country.
How is the TEC Amount Calculated?
The amount payable varies according to the declared net social capital, ranging from ₡5,000 to ₡18,000. The progressive calculation table is established by law to ensure proportional payment based on each company’s financial capacity.
What Happens if You Don’t Pay on Time?
Failing to pay the TEC within the established deadline may result in:
- Interest of 10% per year on the outstanding amount.
- Late payment penalty, equivalent to 1% of the unpaid amount for each month of delay, up to a maximum of 20%.
- Administrative obstacles that may hinder certain legal procedures related to your company.
How is the Payment Made?
The TEC does not require a formal declaration; instead, it must be paid through receipt D-110 or via authorized banking entities during February and March.
ERP Lawyers Can Take Care This for You
To avoid complications and ensure your company meets this obligation without inconvenience, our team of lawyers is ready to manage the TEC payment on your behalf. Don’t let this responsibility become a burden or an unnecessary source of concern.
Contact us today and ensure timely compliance with this tax. At ERP Lawyers, we take care of your company’s tax obligations seamlessly.
