In an effort to keep alive the reforms to the Plan Fiscal (Tax Reforms), the government of Carlos Alvarado delivered to the legislative caucuses a new substitute text, which includes changes in the articles on the Value Added Tax (VAT), income tax and unemployment benefits for public officials.
Legislators at work
The draft comes after days of intense meetings.
Among the proposed changes is the increase from ¢430,000 to ¢648,000 colones per month the amount of residential rental income (and rents paid by Pymes) that the 13% VAT tax will be applied; as well an increase from 250 to 280 kilowatt-hours consumption before the tax is payable.
At the same time, a new VAT rate of 1% is included for the transactions of agricultural goods of the basic basket,