Deadline to File Income
Tax is December 17
Paying income tax in
Costa Rica is being made
easy as the Dirección
General de Tributación,
has some 300.000 forms
available to taxpayers
to declare their income
and pay their taxes for
2007 fiscal year.
The form used to declare
income and pay taxes is
D-101 and costs ¢120
colones (us$0.23).
The form can be obtained
from the Banco Popular,
the state bank was
chosen to be in charge
for the sale and
distribution of the
form.
The forms can be
purchased, in addition
to any branch of the
Banco Popular, at the
HSBC, Lafise, BCT,
Cathay, Citibank,
Scotiabank, Bancrédito,
Promérica de Costa Rica,
Cuscatlán, BAC San José
and the offices of
Coopealianza R.L.,
Financiera Acobo and
Mutual La Vivienda.
According to Tributación
there 352.000 registered
contributors, made up of
individuals and
corporations.
The final date to file
the contribution is
December 15 of each
year. Because this year
it falls on a Saturday,
the final date has been
extended to Monday
December 17.
The viceministra de
ingresos, Jenny
Phillips, said that
contributors can also
file online by using the
software EDDI (Elaboración
Digital de Declaraciones
de Impuestos) which can
be obtained from the
taxation offices or
downloaded over the
internet on the
Ministerio de Hacienda (www.hacienda.go.cr)
website.
All individuals (except
for salaried employees)
and corporations who had
income between October
1, 2006 and September
20, 2007, are required
to file, even if there
is no tax owing on the
income.
For individuals who had
an income less that
¢2.074.000 colones
(us$4.000) are exempt
from having to pay taxes
on the income, however,
are required to file.
Salaried employees are
not required to file
unless they have earned
income outside of their
salaried position.
Included as part of that
income are rent from
properties. Therefore, a
salaried employee who
has a rental property
must file and pay tax on
the income.
Not filing, the
contributor is exposed
to a fine which is equal
to half of a base
salary. The base salary
for 2007 is set at
¢210.600 colones
(us$408), so the fine
for not filing is
¢105.300 (us$204).
In addition to the fine,
contributors who fail to
file will be exposed to
a 1% per month penalty. |
|
