Costa Rica Increases Income Tax Brackets by 2.86%

Costa Rica increased its income tax bracket thresholds by 2.86%, the country’s finance ministry said Sept. 26.

The new brackets, which represent amounts of monthly income, take effect Oct. 1, the Ministry of Finance said in a notice (Spanish).

The adjusted ranges of monthly income and corresponding tax rates are:

• Up to 840,000 colónes (U.S. $1,442.66), zero;
• More than 840,000 colónes and up to 1,233,000 colónes (U.S. $2,177.62), 10%;
• More than 1,233,000 colónes and up to 2,163,000 colónes (U.S. $3,714.84), 15%;
• More than 2,163,000 colónes and up to 4,325,000 colónes (U.S. $7,427.97), 20%;
• More than 4,325,000 colónes, 25%.

While Costa ...