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Costa Rica Instating an Additional Income Tax

Costa Rica News – After next October 1st, many people working in Costa Rica will have to pay tax on their additional income.

Although their salaries are the same this is an additional tax on what they make.income tax costa rica 1

This will affect about 3,462 employees who earn between ¢787,000 per month and¢793,000.

The current figure is that those who make under ¢793,000 do not have to pay the tax. Those making ¢1,190,000 pay 10% and those making ¢1,190,000, 15%.

For example, If someone makes  ¢1.000.000 per month he will not pay tax on the first ¢787.000 but will pay on the excess ¢213.000, having to pay a total of 10% which equals ¢21.300.

Many believe this level of taxation is unfair on an individual. Unlike companies, individuals don’t have many ways to adjust their income and expenses.

Multiple labor unions are angry.

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