National exporters who sell at least 75% of their purchases abroad, would have an extension to buy their inputs without the 13% VAT surcharge. According to Taxation, a document was sent to President Carlos Alvarado that will give them six months of extension. The letters that are already valid would remain until the end of […]
Archives for June 2019
Traveling to New York will be cheaper!
Low-cost airline JetBlue announced that it will offer the route from New York to San José as of November 1st. This flight will be permanent; leaving this American city on Tuesdays, Fridays and Sundays at 6.25 pm (local time), to get to Juan Santamaría at 10.50 pm. The return trip will depart from Santamaría at […]
Basic Passive Rate reaches its highest level in four years
On Thursday, the Basic Passive Rate (TBP) stood at 6.55%, that is, 20 points higher than last week, reaching levels not seen since the end of September 2015. The TBP is an average of collection rates of financial institutions such as banks or cooperatives and when it rises, debtors are affected in national currency. Therefore, […]
President backs Japdeva rescue plan, despite impact on finances
President Carlos Alvarado defended the plan intended to save the Port Administration and Economic Development Board of the Atlantic Coast (Japdeva), although it will have an impact on the country’s finances and fiscal deficit. The text that is processed under the file 21.476 in the Commission of Government and Administration of the Congress and that […]
Electric rates would increase “to avoid ICE financial imbalance”
Electricity rates would increase as of next quarter, following the methodology for the extraordinary adjustment in the electricity service published in the official Gazzete. This document issued by the Intendancy of Energy is called “Methodology for the extraordinary adjustment of electricity service rates, product of variations in the cost of fuels (CVC) used in thermal […]
Will the price of gas rise with the VAT?
There are still many doubts about the impact of the Value Added Tax in the country, including what will happen with the price of fuels. The economist Daniel Zuchar explained that fuels will not be taxed with 13%. However, he said that within the production chain, VAT increases could occur and they mught be reflected […]