If approved, the bill would allow corporations to pay the annual tax owed for tax years 2016 through 2021 on legal entities without paying the interest and penalties.
On 1 March 2022, Costa Rica proposed Bill No. 22.905, which would allow corporations, subsidiaries of foreign companies and limited liability companies to pay the annual tax owed for tax years 2016 through 2021 on legal entities without paying interest and penalties. This benefit would apply from the date the law enters into force through 15 December 2022.
Legal entities that have been dissolved due to non-payment of the tax may submit a request to end the dissolution if they pay the tax due no later than 15 December 2022. The legal entities must file the request at the request of the shareholders with at least 51% of the total shares of the company.
To become law, Congress needs to approve the bill in two debates.
For additional information with respect to this Alert, please contact the following:
Ernst & Young, S.A., San José, Costa Rica
- Rafael Sayagués
- Randall Oquendo
- Daniel Quesada
Ernst & Young LLP (United States), Latin American Business Center, New York
- Ana Mingramm
- Lucas Moreno
- Pablo Wejcman
- Enrique Perez Grovas
Ernst & Young Abogados, Latin America Business Center, Madrid
- Jaime Vargas
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
- Lourdes Libreros
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific
- Raul Moreno, Tokyo
- Luis Coronado, Singapore
For a full listing of contacts and email addresses, please click on the Tax News Update: Global Edition (GTNU) version of this Alert.
