Costa Rica changes to VAT
- Aug 29, 2015 | Richard Asquith
Costa Rica has proposed a range of changes to the exiting Value Added Tax regime, which is in fact closer to a simple sales tax system. The changes include:
- More services to be subject to the consumption tax
- Introduction of self-billing and consumption
- VAT refunds for people below the official poverty line
- Introduction of reduced VAT rates at 5% for a limited range of basic goods, raw materials and agricultural supplies
- Refunds of VAT on certain credit card payments to discourage VAT fraud
- An graduated 1% VAT rise each year from today's 13% until 15% in 2017
VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax
Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara