Costa Rica Territorial Tax
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Hello, I heard that Costa Rica had reached an agreement with the IMF to implement a world wide tax system. The article is from some time ago though. Hopefully it fell through. Does anyone know what happened with regards to this? thx.
https://orbitax.com/news/archive.php/Costa-Rica-Agrees-to-Implement-45301 -
Right now, for individuals living in Costa Rica, any income obtained within the boundaries of Costa Rica is considered as Costa Rican-source income and is taxable. Costa Rican-source income is understood to be any income derived from assets used, goods located, or services rendered within Costa Rican territory.
Non-residents are liable only for the applicable withholding taxes (WHTs), depending on how the income is earned.
I am going to reach out to my lawyer about this and get some more information to share. I will be back soon.
- Bekah Bottone, IL Costa Rica Correspondent
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Right now, for individuals living in Costa Rica, any income obtained within the boundaries of Costa Rica is considered as Costa Rican-source income and is taxable. Costa Rican-source income is understood to be any income derived from assets used, goods located, or services rendered within Costa Rican territory.
Non-residents are liable only for the applicable withholding taxes (WHTs), depending on how the income is earned.
I am going to reach out to my lawyer about this and get some more information to share. I will be back soon.
- Bekah Bottone, IL Costa Rica Correspondent
I just wanted to share what my lawyers at Themis Legal (https://themislegalcr.com/) sent me when I shared your question: "Yes, it has been reviewed by the Legislative Assembly and it is still been analyzed, yet it has not yet been approved."
-Bekah Bottone, IL Costa Rica Correspondent
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