On June 29th, 2022, the National Board of Salaries “Consejo Nacional de Salarios”, announced an increase on the base of the minimum wages of the private sector, of 1,24%, applicable retroactively as of July 1st, 2022. Based on this, you will have to pay an additional ₵124 colones for each ₵10,000 paid to the workforce, starting on the effective date of the Decree. Additionally, this increase must be reported in the social security reports (CCSS and INS) and must be accounted in the payment of end-of-year bonuses and other benefits.
The decree is yet to be published in “La Gaceta”, Costa Rican official newspaper.
TACTIC Legal Studio
