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CORPORATE OBLIGATIONS FOR THE YEAR 2022
[/vc_column_text][us_separator][vc_column_text]Starting the year 2022, we want to remind you that, starting this month of January, certain obligations must be met to maintain the good state of companies in Costa Rica.
Below we detail these obligations:
- Tax on Legal Entities.
This is an annual tax that must be paid by all duly incorporated companies and legal entities in the country, whether or not they have a profit-making activity. Payment must be made during the month of January 2022, and the amount due will depend on whether the company is active or not, and in the former case, on the amount of sales made the previous year. In any case, the tax will range between $120 and $400 annually, depending on the aforementioned assumptions. Late payment of the tax not only results in interest payments but also in the impossibility of registering documents with the National Registry.
- Stamp of Education and Culture.
This is an annual tax that all corporations and legal entities in the country must pay during the month of January of each year. It is calculated based on the company's share capital. The amount is approximately $20 per year, depending, as indicated, on the company's share capital. Late payment of this tax incurs interest.
- Shareholder Registry.
This obligation will be fulfilled during the month of April 2022 (only during that month); this will be the third time that all companies and legal entities registered in the country must comply with this obligation, the first being at the end of 2019 and the beginning of 2020.
This is an obligation requiring companies to indicate who, down to the individual level, are the ultimate beneficiaries of said companies. The process must be completed with a digital signature on an online platform implemented for this purpose by the Central Bank of Costa Rica.
Failure to comply with the obligation to file this declaration may result in fines and the inability to register documents with the National Registry.
- First-time filing of income tax return (D-101) for inactive companies.
As a new corporate obligation starting in 2022, not only active companies (those with economic activity) but also inactive companies (those that do not carry out economic activity and are, for example, mere asset holders) will be required to file an income tax return (D-101) with the Tax Authorities by March 15 of each year. Information on assets, liabilities, and share capital must be included.
Failure to submit (omission) the declaration will result in an administrative penalty in accordance with the Tax Rules and Procedures Code.
Likewise, in certain cases, our firm provides services for the appointment of a Resident Agent, custody of corporate books and documents, the custody of registered office, and representation or appointment to the Board of Directors.
Likewise, we take this opportunity to remind you that the property tax must also be paid to the municipality where the property is located. This tax must be paid quarterly (or annually) by March 31 of each year.
Do not hesitate to contact us if you require any of the services mentioned above, at the email addressesevargas@lexincorp.comtheinfocr@lexincorp.com [/vc_column_text][us_separator][vc_column_text]
Written by:Lic. Eugenio Vargas
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