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Costa Rica Assembly Considers Bill to Provide Tax Incentives for Tourism Companies Due to Coronavirus

Aug. 4, 2020, 5:00 AM

The Costa Rican Legislative Assembly July 30 accepted for consideration Bill No. 22118, providing tax incentives for tourism companies, due to the coronavirus pandemic. The bill includes measures to: 1) provide a VAT exemption for electricity services for up to 24 months; 2) allow companies investing in tourist capital to apply a 25 percent tax reduction on profits for seven years; 3) allow companies making additional investments in tourist capital to apply a 25 percent tax reduction on profits for five years; 4) allow companies making additional investments in specified locations to apply a 50 percent tax reduction on profits ...

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