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
