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Costa Rica Tax Rates on Imported Goods in Golfito May Go Down

Costa Rica News – Deputies are making some changes regarding Golfito. A debate is going on regarding an amendment to the law of the Board of Regional Development of the Southern Zone (Judesur) that lowers the flat tax on products from the Free Trade Warehouse.

golfito costa rica tax free zoneIt was unanimously accepted that there would be a tax rebate of 18% to 14% in the first year, 12% in the second year and then 10% for the third year which would then remain as a fixed rate.

It will help the area remain competitive as well as bringing more business to the south.

The amount of jobs will double from 2,500 to 5,000 in this poverty stricken area with high unemployment.

The initiative goes further by increasing the cap on how much any individual could spend there per year from $2,000 to ¢ 1.6 million.

The final decision on passing the amendment or not will come after consulting some institutions and indigenous communities.

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