Instead of charging a tax of 0,002 percent on electronic transactions higher than ¢100.000, the Finance Ministry would consider a tax on cash withdraws larger than ¢500.000. Fernando Rodríguez, vice-minister of Income, said the measure would be similar to to what other countries have applied. “Taxing cash withdraws increases the use of electronic transactions and card payments. The finance […]
Archives for May 2016
Bilateral agreement with Germany will foster investments
The agreement to prevent double taxation between Costa Rica and Germany will help to improve businesses between the two countries and is expected to favor foreign investment. The document details the procedure tax authorities must follow to exchange information and the treatment of taxes in each country. The agreement follows the line established by the […]
Square meter price of middle class housing lowers 5000 colones
The square meter price of construction for middle class housing decreased 2,1 percent (about 5000 colones) in the first quarter of 2016 compared with the last quarter of 2015. Back then the price was 300.000 colones and now stands at 295.000 colones by square meter. That is what the Quarterly Economic Activity Index (ITAEC) points […]
Prolonged Turrialba eruption
Turrialba volcano erupted at around 11 in the morning of May, 18th and lasted for about 3 hours. Mauricio Mora, volcanologist of the National Seismological Network (RSN), reported the eruption lasted until 2:30 in the afternoon. A few hours later there was a significant decrease in the output of ash and steam from the volcano. […]
A craving’s awakening: arrives “Festival Siropeando”
Ice, sirop, condensed milk, and powder milk are the main ingredients of the famous ‘granizado’ (slush), a popular frozen dessert in Costa Rica. Even though you’re probably thinking in going to Caldera or by the surroundings of ‘Basílica de los Ángeles’, this Thursday May 19 you won’t have to go until there to enjoy this […]
Exports and tourism sectors ask to review US$ price
The exporter and touristic sector sent a letter to Banco Central de Costa Rica (BCCR) suggesting to review the foreign currency exchange policy to favor the country’s competitiveness on their activities. Laura Bonilla, president of the Chamber of exporters, said that they’re concerned for the loss of competitiveness of these sector facing other nations that […]