Friday, January 30, 2015

Tax on Costa Rica corporations is unconstitutional, says court



More than 545,000 corporations are registered in Costa Rica, according to the National Registry.
Ronald Reyes/The Tico Times
The Constitutional Chamber of the Supreme Court, or Sala IV, on Wednesday evening ruled three articles of the country’s Corporate Tax Law unconstitutional, and as a result, collection will be suspended starting next year.
The Sala IV ruling notes that taxpayers still are obliged to pay the relevant taxes for the current period by this Saturday’s deadline.
According to the ruling, a procedural error occurred in the approval of the law, which created the tax in question in 2011. A version of the approved bill was published in the official newspaper La Gaceta, but lawmakers amended several articles and the changes were never published, the Sala IV stated.
Justices found the drafting of articles 1, 3 and 5 unconstitutional. Those articles outline the implementation of the tax, its rates and sanctions for tax dogding.
Modifications also included the adding of new sanctions that were not included in the original drafting of the law.
Sala IV’s ruling also states that in order to avoid problems or misinterpretations, taxes for the fiscal year 2015 must be paid. Tax collection will be suspended from 2016.
The Corporate Tax Law was approved on Dec. 23, 2011, and up to 95 percent of funds are supposed to be invested in public security programs.
Before the ruling, the tax had to be paid every January by all corporations registered in the National Registry. This month, active corporations must pay 201,700 ($380) per year, and inactive corporations, or those that do not earn a profit, pay 100,850 ($190). All payments must be made at Banco de Costa Rica branches. Banco de Costa Rica customers can pay the tax online at the bank’s website.

According to the National Registry, 545,000 corporations are registered in Costa Rica. A Jan. 14 report stated that fewer than 6 percent of taxpayers had paid it.

Wednesday, January 14, 2015

16 Things You Might Not Know About Costa Rica


Costa Rica is as well known for its beautiful natural landscape and bustling biodiversity 
as it is for its wonderful, happy residents. Here are 16 interesting facts about Costa Rica 
that help make the country a truly singular place.
1. OVER A QUARTER OF THE LAND IS DEDICATED TO CONSERVATION.
Tourists and locals alike are drawn to Costa Rica’s natural beauty—and are committed 
to preserving it. With 20 national parks, 8 biological reserves, animal refuges, and protected 
areas, 26 percent of Costa Rica’s land is protected.

2. TOURISM IS THE COUNTRY’S LEADING FOREIGN EXCHANGE EARNER.

All that natural beauty and the diverse landscape with two oceans and access to countless 
adventure activities have made Costa Rica a great vacation destination. In 1995, tourism 
overtook bananas to become Costa Rica’s leading foreign exchange earner. Tourism 
reached an all-time high for Costa Rica in 2013 with 2.4 million visitors.

3. COSTA RICA IS HOME TO FOUR UNESCO WORLD HERITAGE SITES.

The United Nations Educational, Scientific and Cultural Organization (UNESCO) has 
designated four locations in Costa Rica as World Heritage Sites for their universal 
cultural and natural value. They are: La Amistad National Park, Cocos Island National 
Park, Area de Conservación Guanacaste, and the Precolumbian Chiefdom Settlements 
with Stone Spheres of the Diquís.

4. COSTA RICA IS ONE OF 23 COUNTRIES IN THE WORLD THAT DOESN’T 

HAVE A STANDING ARMY.

Costa Rica dissolved its national army in 1948, and the abolition of the military was 
written into the national constitution in 1949. Twenty-one countries, including the 
United States, signed the Inter-American Treaty of Reciprocal Assistance in 1947, 
pledging to provide military support to Costa Rica (and any other signee) should 
they need it. In 1980, the United Nations University for Peace was created and housed in Costa Rica.

5. IT HAS ONE OF THE HIGHEST LIFE EXPECTANCIES IN THE WORLD.

According to the World Bank, Costa Rica's life expectancy at birth is 80 years. 
This figure is higher than that of the United States (which is 79). 
The Nicoya region of Costa Rica is also one of five Blue Zones—“longevity hotspots” 
populated by the longest-living people in the world—on the globe. All that natural 
beauty and happiness must be good for you!

6. THERE ARE OVER 200 VOLCANIC FORMATIONS IN COSTA RICA.

Of these, approximately 112 have shown some type of activity—60 are 
considered dormant, which means they don't currently show signs of activity,
but could possibly become active again. Arenal is the most active volcano in 
Central America, while Poás is the second widest volcanic crater in the world, 
and Irazú is Costa Rica’s tallest volcano.

7. COSTA RICA IS SLIGHTLY SMALLER THAN LAKE MICHIGAN.

At 19,730 square miles, Costa Rica occupies slightly less territory than 
Lake Michigan (which measures 22,394 square miles). The country
 contains 801 miles (1,290 km) of coastline.

8. COSTA RICA IS HOME TO MORE THAN 5 PERCENT OF THE WORLD’S 

BIODIVERSITY.

Costa Rica may not be a large country, but it packs a lot of life into its borders. 
While Costa Rica only occupies .03 percent of the world's surface, it boasts the 
globe's highest biodiversity density. The country is home to more than 500,000 
species! And, with nearly 3 percent of the world’s biodiversity contained in its 
borders, Corcovado National Park has been deemed “the most biologically intense
 place on the planet.”

9. THERE ARE TONS OF BUTTERFLIES IN COSTA RICA.

Seriously—there are so many butterflies. Costa Rica contains approximately 90
 percent of the butterfly species found in Central America, 66 percent of all 
neo-tropical butterflies, and about 18 percent of all butterfly species in the world.

10. THERE ARE ALSO OVER 50 SPECIES OF HUMMINGBIRDS.

Of the 338 known species of hummingbirds, about 50 live in Costa Rica. 
The smallest Costa Rican hummingbird (the male scintillant hummingbird) 
weighs only two grams. The largest (the violet sabrewing) weighs an average of 11.5 
grams.

11. COSTA RICA RESIDENTS ARE CALLED TICOS AND TICAS.

Costa Ricans colloquially refer to themselves as Ticos (male) and Ticas (female). 
This stems from their practice of adding the diminutive suffix "tico" to the end 
of most words. For example, un poco means "a little" in standard Spanish. 
The typical diminutive is un poquito (a little bit), but Costa Ricans would instead 
say un poquitico.

12. TICOS AND TICAS IN LOVE USE A SWEET TERM OF ENDEARMENT.

Costa Ricans use the term media naranja to refer to their soul mate or other half. 
It literally translates to "half an orange."

13. MOST COSTA RICAN RADIO STATIONS PLAY THE COUNTRY'S 

NATIONAL ANTHEM AT 7:00 EACH MORNING.

The national anthem, unofficially called "Noble patria, tu hermosa bandera"
("Noble homeland, your beautiful flag") was first played in 1852 to welcome 
United States and United Kingdom diplomatic representatives. The song, with 
music by Manuel Maria Gutierrez and lyrics written by Jose Maria Zeledon in 1903, 
was officially named Costa Rica's National Anthem in 1949.

14. COSTA RICA DIDN'T USE STREET SIGNS UNTIL 2012.

While a GPS will display street names in Costa Rica, locals use landmarks 
(past and present) to give directions. To get to the National Theater in San Jose, 
for example, you would take a "left-hand turn 100 (meters) south of the People's 
Bank." While San Jose residents readily used street names and numbers until the 
early 20th century, the practice fell off following a population boom in the 1950s and '60s.
In 2012, the city undertook a $1 million project to reintroduce street signs and a more
 regulated postal system to San Jose.

15. COSTA RICANS LIVE BY PURA VIDA.

Costa Ricans will often greet one another and bid farewell by saying "pura vida." 
But pura vida, which translates to "pure life," is more than a turn of phrase to 
Costa Ricans—it's a state of mind. Costa Ricans take every opportunity to live life to the fullest.

16. COSTA RICA RANKS NUMBER ONE IN THE HAPPY PLANET INDEX.

With pura vida as their philosophy, it comes as no surprise that Costa Ricans 
are considered to be some of the happiest people on Earth. The Happy Planet 
Index uses three criteria—life expectancy, experienced well-being, and Ecological 
Footprint—to determine the overall happiness levels of 151 countries across the 
globe. With a score of 64.0, Costa Rica tops this list. (The United States, for 
comparison, has an HPI of 37.3.)