Costa Rica Gazettes Decree Updating 2023 Income Tax Brackets for Individual Taxpayers, Companies

The Costa Rican Official Gazette Dec. 23 published Decree No. 43852-H, updating the individual and corporate income tax thresholds for 2023. The decree includes measures setting monthly individual tax rates of: 1) 10 percent on income between 941,000 colones and 1.4 million colones (US$2,351); 2) 15 percent tax on income between 1.4 million colones and 2.4 million colones (US$4,137); 3) 20 percent on income between 2.4 million colones and 4.8 million colones (US$8,273); and 4) 25 percent on income over 4.8 million colones. For companies with annual income up to 122.1 million colones (US$209,155), the decree includes rates of: 1) ...