By: LatinAlliance
Inactive legal persons are those legally constituted and registered in the National Registry or other competent state entities, which do not carry out economic activity before the General Directorate of Taxation.
Those who only obtain capital income subject to unique and definitive withholdings will not be considered inactive legal persons. However, to avoid being considered as such, said legal persons must register the activity they carry out in the Single Tax Registry and keep the address, email and other required information updated.
As of this year 2023, the owners of inactive companies must complete their informative declaration, in which they are obliged to detail if they have jewelry, works of art, club memberships, properties in Costa Rica or abroad; balances in bank accounts, debts and monthly amounts to be paid, or if they have trademarks, making said statement a cumbersome process.
With the implementation of more information, the obligation of inactive legal persons to provide information on their assets, liabilities and capital is established. Causing having to present excessive information to a legal person that does not generate any type of lucrative activity, causing expenses and risks of economic sanctions to the owners of inactive companies, whether families or companies.
Form D-195 becomes quite taxing on the taxpayer.
Failure to submit the D-195 document on time, or failure to comply with the order issued by Taxation, generates economic sanctions for companies or families.