Members of the Financial Affairs Committee endorsed a bill that eliminates tax privileges to the real estate developers’ investment funds.
The initiative aims to an 8% income tax on all yields from investment funds, instead of the current 5%. However, according to Paulina Ramírez from Partido de Liberación Nacional (PLN), investment fund’s earnings from housing, media and environmental projects will continue to pay the current 5%
With this reform, the Tax Office would have more funds, but Ramírez could not specify the amount.