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Costa Rica Tax Infractions and Offenses

santions law 4755

in Taxes

The tax system in Costa Rica is territorial , meaning that taxes are levied on activities and/or assets that have a Costa Rican source. Under Law 4755, known as the Code of Tax Norms and Procedures (C...

Carlos Mario Fajardo Lizano.

Budget

BUDGET A budget estimates a project or company's projected income and expenses over a specified period. It allows for efficient management and allocation of resources, ensuring that objectives are met...

audit consulting

Sep 21, 2024 Audit

Carlos Mario Fajardo Lizano.

Employees Notice, Severance and Christmas Bonus

What is a Notice Period? A notice period is an advance notification that an employee must give to an employer when resigning, or that an employer must give to an employee when terminating employment w...

audit consulting

Jul 22, 2024 Audit

Carlos Mario Fajardo Lizano.

Electronic invoicing Costa Rica

Electronic invoicing Costa Rica The electronic invoicing system in Costa Rica is managed by the Ministry of Finance, which oversees the validation and issuance of electronic documents in business tran...

consulting

May 6, 2024 Taxes

Carlos Mario Fajardo Lizano.

Break-even point SMEs

Break-even point The "break-even point" in finance, also known as the operational break-even point, is a crucial concept in business management and financial analysis . It refers to the level of produ...

consulting

Apr 18, 2024 Finance

Carlos Mario Fajardo Lizano.

Deductible Expenses Costa Rica

Deductible Costs and Expenses Businesses and individuals engaged in profit-generating activities, as referenced in Article 2 of the Law, are entitled to deduct from their gross income the necessary co...

audit taxes

Mar 21, 2024 Taxes

Carlos Mario Fajardo Lizano.

Transfer Pricing in Costa Rica

The initial consideration in discussing Transfer Pricing from a tax perspective is understanding the definition of RELATED PARTY. Subsequently, we can commence the evaluation of the principle of free ...

audit consulting taxes

Mar 14, 2024 Taxes

Carlos Mario Fajardo Lizano.

Commercial License with Municipality

It is mandatory for businesses to prominently display their commercial license at their place of business. This ensures transparency and demonstrates compliance with municipal regulations to customers...

consulting taxes

Feb 22, 2024 Taxes

Carlos Mario Fajardo Lizano.

Bitcoin and DeFi: A better payment method

What is Bitcoin and DeFi? Bitcoin is akin to digital currency, similar to the physical cash you use, yet exclusively exists in the realm of the internet. Are you familiar with how you securely keep yo...

audit consulting taxes

Feb 9, 2024 Taxes

Carlos Mario Fajardo Lizano.

Income Tax Hacienda Costa Rica - 2024

2024 RATES Income tax based on Law 7092 Tax Return for the ordinary period between January and December. EAID = Earnings After Intereses and Depreciation. Business (Corp,LLC) Independents - Profession...

audit consulting taxes

Jan 4, 2024 Taxes

Carlos Mario Fajardo Lizano.

Difference between Salaried Employees and Private Services Contract.

Difference between Salaried Employees and Private Services Contract. Every business activity with profit motives is subject to the offering of goods and services in the market. One of the pillars for ...

consulting taxes

Nov 27, 2023 Finance

Carlos Mario Fajardo Lizano.

Accounting Policies, Changes in Accounting Estimates and Errors.

Accounting Policies, Changes in Accounting Estimates and Errors. Section 10 NIFF SMEs | IAS 8 In business, it is essential to establish the objectives and policies that strategically guide management....

audit consulting

Sep 27, 2023 Finance

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