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Costa Rica Income Tax Rates for 2012

Costa Rica Income Tax Rates for 2012 Fiscal Year

The Costa Rica Tax Department has published the income tax rates for the 2012 Fiscal Year.  The fiscal year in Costa Rica runs from October 1st to September 30th.   The form used to report income in Costa Rica is the D-101 form.  A copy of the D-101 form is set forth below for illustration purposes. The Tax Returns must be filed by December 15th, 2012

1.  Individuals with a Business Activity.

This tax rate applies to individuals who carry out a business or trade on their own as self employed individuals.

 

2012

Net Income Amount

 

Tax Rate

(October 2012)

Up to ¢3.042.000

No Tax (Exempt)

 

Excess of  ¢3.042.000

Up to  ¢4.543.000

 

 

10%

On the Excess of  ¢4.543.000

Up to ¢7.577.000

 

 

15%

On the Excess of  ¢7.577.000

Up to ¢15.185.000

 

 

20%

 

On the Excess of  ¢15.185.000

 

25%

 
2.  Calculations for Corporations

 If you operate as a corporation then you will be subject to the following tax rates.  The calculation is a two (2) step process.  First you determine the Gross Income of the corporation.  The Gross income will determine the applicable tax rate according to the tax rate set forth below.    However, the second step once you have your tax rate is to calculate the tax by multiplying the rate by your Net Income.   

                                   

 

2012

Gross  Income

 

Tax Rate

(october 2012)  

 

 

Up to  ¢45,525,000

 

10%

 

Up to ¢91,573,000

 

20%

 

In Excess of  ¢91,573,000

 

30%

 To calculate the actual tax :  

1-  Establish your tax rate based on Gross Income

2 – Use the Tax Rate X   Net Income        =     Tax Due

3.  Calculations for Salaried Individuals

 If you are a salaried individual then the tax rates are as follows:  

                                   

 

2012

Gross  Income

 

Tax Rate

(october 2012)  

 

 

Up to  ¢685,000

 

Exempt

 

From 685,000 to 1,028,000

 

10%

 

In Excess of  ¢1,028,000

 

15%

    D-101  Income Tax Reporting Form

 

 

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