TAX OBLIGATIONS OF THE 1ST QUARTER 2021

On taxes at the end of the period December 31,2020

It is important to remember the changes that apply in relation to the closing of the fiscal period that ends on December 31, 2020, for income tax returns, the declaration for Inactive Corporations and Informative Returns, as well as knowing the rates that govern the 2020 period, and the determination of the base salary for the calculation of the penalties. 

CLOSING DATE ORDINARY FISCAL PERIOD

DECEMBER 31, 2020


INCOME TAX RETURNS.

Those taxpayers natural or legal persons subject to the payment of income tax should remember that the period to declare is from October 1, 2019, to December 31, it will be done through form D101 available on the ATV platform, being the maximum term to present and pay without interest on March 15, 2021.

INACTIVE CORPORATIONS

Inactive Companies as of December 31, 2020, must declare the value of their assets and liabilities, as of January 1, 2021, for which they must use form D101 and using the International Financial Reporting Regulations to determine the corresponding valuation. The deadline for submitting this statement is March 15, 2021.


CORPORATE TAX

  • Companies not registered in the RUT as taxpayers of income tax or companies filing but not taxpayers in income tax, pay 15% of the base salary, that is, the sum of ¢ 69,330

  • Companies registered in the Simplified Taxation Regime, companies registered as taxpayers of income tax that declare income (box No. 35) at zero or no activity, registered companies that have declared gross income less than 120 base salaries, that is, lower at ¢ 55,464,000 colones, they will pay 25% of the base salary, namely the sum of ¢ 115,550.00

  • Companies with gross income greater than 120 base salaries but less than 280 salaries, that is, less than ¢ 129,416,000 pay 30% of the base salary, namely the sum of ¢ 138,660.00

  • Companies with gross income greater than 280 salaries, pay 50% of the base salary, namely the sum of: ¢ 231,100.00

  • New companies that register: They will be responsible for paying proportionally to the days remaining between the date of their effective registration and the last day of the 2021 period (December 31), starting from the amount of ¢ 69,330.


INCOME TAX RATES 2020

For taxpayers subject to payment of income taxes using form D101.

  • Legal Persons

    • Gross revenue - under ¢109.032.000

      • Net Income ¢5.143.000 pay 5%

      • Net Income ¢5.143.000 to ¢7.715.000 pay 10%

      • Net Income ¢7.715.000 to ¢10.286.000 pay 15%

      • Net Income - over  ¢10.286.000 pay 20%

    • Gross revenue OVER ¢109.032.000

      • Net Income pay 30%

  • Individuals with lucrative activity

    • Up to ¢ 3,732,000 EXEMPT

    • From ¢ 3,732,000 to ¢ 5,573,000 10%

    • From ¢ 5,573,000 to ¢ 9,296,000 15%

    • From ¢ 9,296,000 to ¢ 18,631,000 20%

    • Over the Excess of ¢ 18,631,000 25% 

  • Fiscal Credit

    • Married ¢28.320

    • Childern ¢18.840

BASE SALARY REFERENCE FOR 2021

In accordance with the Code of Tax Standards and Procedures, sanctions for non-compliance or omissions are assessed using the Base Salary as a reference, said rate is established in article 2 of Law No. 7337, which is established by the Superior Council of the The Judiciary set said base salary at the sum of ¢ 462,200 (four hundred sixty-two thousand two hundred colones).