As we approach the new year, knowing the obligations that await your entities and properties in Costa Rica in 2024 is essential. To ensure a smooth and compliant year, please take note of the following important reminders:
1. Corporate Tax Payment:
- Payment Deadline: January 31, 2024.
- Applicable to all registered entities in Costa Rica.
2. Property Taxes:
- Payment Options: Quarterly or Annual.
- Each Municipality will issue amounts for 2024 after January 1st, 2024.
- Please remember to update the value of your properties before the Municipality at least once every five years
3. Luxury Home Tax Payment:
- Due by January 15th, 2024.
- This applies to residential properties with construction values exceeding a specified threshold.
- The value will be updated by the government for 2024.
4. Mandatory Tax Filing for Non-Active or Inactive Entities:
- Applies to entities with no economic or business activity.
- Regular filing period: on or before April 30th, annually.
- We will keep you informed in case of government extensions.
5. Transparency and Final Beneficiary Declaration (“UBO” or “Ultimate Beneficial Owner”):
- Objective: Maintain an updated registry of Ultimate Beneficial Owners (UBOs).
- Applicable to all legal entities and legal arrangements domiciled in Costa Rica.
- Report any changes in ownership structure or UBOs within 15 business days.
- Regular filing period: April 1st to April 30th, annually.
Stay updated with potential government extensions through our communications. We also recommend reviewing the expiration dates of your residency cards and driver’s licenses at the beginning of the year.
Please be aware that any changes to the amounts or filing deadlines for the above mentioned obligations will be promptly communicated. Your compliance is crucial for the smooth operation of your entities and properties in Costa Rica. Feel free to contact us if you have any questions or require assistance with these obligations.
Thank you for entrusting us with your legal matters. We look forward to another successful year of collaboration.
(506) 4001-9333 or US Direct Dial (305) 507-8530
Stay Informed and Prepared for Your Upcoming Obligations