The Executive Branch was reviewing a proposal to lower tax on companies with profits of ₡109 million or more to 27.5%. It was considered for two weeks, but, ultimately, it was decided against. Those companies will continue to pay 30%.
The newest version of the global income plan will thus eliminate the idea of reducing tax for companies making that much. The idea of global income is to pay tax on all income together instead of separately.
The new wording eliminates the idea of modifying tax amounts on company profits and limits the plan to just reforming the way the State collects tax from individuals.
Taxes will not be collected on profits generated abroad. Supplementary pensions will be exempt from tax. Micro, small, and medium-sized companies will continue to pay between 5% 20%, based on their income level.
