On March 11 of this year, an extension of 03 months was published in the Official Gazette “La Gaceta” for the filing of the Income Tax Returns of Inactive Companies, ending next June 11, 2022. 

As we indicated in our previous communication, this declaration is a summary of the increases in assets, liabilities, and capital stock of Inactive Companies, in order to minimize the cost of compliance.

Inactive Companies

Inactive Companies are companies or legal entities that do not develop any type of lucrative activity (they do not sell goods or services and therefore do not register income and do not issue invoices) and do not generate profits within the Costa Rican territory, because their only purpose is to own an asset. This would include personal companies where assets such as a house, land, recreational property, shares, or personal vehicle, among others, are owned.

Possible Fines

In case of non-compliance, each company could be subject to a fine of approximately $360.00.

If you have any questions or require assistance with the Income Tax Return of Inactive Companies, do not hesitate to contact us at contact@tactic.legal and we will be glad to assist you.

Best Regards,

TACTIC Estudio Legal