By: Estefanía Chacón, Alma Reyes, Botho Steinvorth.
The Law for the Simplification of Tax Procedures for Non-Profit Legal Entities (number 10.160) was approved in Costa Rica, which includes a transitory provision where a 3 month extension is approved so that inactive companies may file the statement of assets and liabilities of Inactive Companies.
This means that thanks to this new law, the term for the inactive companies to comply with the obligation to file the declaration of their assets, liabilities, and social capital within the ATV system of the Ministry of Finance is extended for 3 months, term that expired next Tuesday, March 15.
June 15 is the deadline to comply with this obligation, otherwise if the companies do not comply with this obligation, they could be exposed to fines of up to 3 base salaries, approximately ¢1,400,000.
In LatinAlliance Costa Rica our team can assist you with the processes to comply with the obligation mentioned above.
For more information, please contact us at: recepcion@latinalliancecr.com or +506 4052 6070.