Inactive Companies File Income Statement in March
Author: Mauro Esquivel
Treasury made the simplified form available to taxpayers for inactive companies to declare. All those companies registered under activity code number 960113, "legal persons incorporated in the country that do not carry out economic activities of Costa Rican source," will have to complete the declaration. The representatives of these companies must include in the declaration the information of the fiscal periods 2020 and 2021, and the deadline to comply with the obligation will be March 15, 2022.
This declaration must be made through the portal (ATV) Virtual Tax Administration of the Ministry of Finance. Taxpayers must have updated information on the tax address and legal representative.
"It is important to remember that Law No. 9635, 'Strengthening of Public Finances, "in article 2, obliges all legal entities, regardless of whether they carry out lucrative activities, to file income tax returns." "However, for the so-called inactive companies, the tax administration itself had suspended the filing of the return until the simplified form was available."
This declaration implies an act of transparency of these companies with Treasury about their assets and the origin of the funds with which they were acquired.
New Sectors and Activities may be selected for Tax Audits
A group of new sectors and activities entered the criteria for selecting taxpayers that could be subject to tax audits.
The list was made known by the Tax Administration of the Ministry of Finance through a resolution, in force since January 1, 2022.
According to the resolution, the following economic sectors and activities are included in the list:
-Agriculture, livestock, hunting, fishing, and forestry.
-Manufacturing industries.
-Supply of electricity, gas, and water.
-Construction.
-Wholesale and Retail.
-Transport and storage.
-Hotels and restaurants.
-Centres for placing bets, games of chance, casinos, and operating slot machines.
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