By the A.M. Costa Rica staff

From Tuesday all people or companies that have agriculture, livestock and fish activities will carry out a new sales tax payment process called Special Agricultural Regime, known as REA for its acronym in Spanish.

This was announced Tuesday by President Carlos Alvarado. "The formalization of the agricultural sector (agriculture and livestock) and fisheries is a goal of the Government to support these activities," said Alvarado. "Therefore, it was necessary to understand their particularities and adjust the rules to allow them to comply with the new law."

The REA, has the goal of making the report of value-added tax, known as IVA, easily, said the Ministry of Finance in its statement.

With the approval of the IVA legislation, the possibility of establishing a tax regime for these activities was opened.

The REA guarantees the payment of IVA through special considerations, adjusted to the productive and commercial reality of the different sectors.

Among other things, it allows those affected to use the electronic purchase invoice to support the sale, keep simplified records, including non-electronic invoices, and consider the productive cycles of each activity.

For example, coffee producers will make an annual statement, due to their production cycle.

To opt for the conditions established in the REA, people or companies of any of these activities, livestock, agriculture or fish must first register with the Ministry of Finance and the Ministry of Agriculture and Livestock.

More information on how to use this new simplified tax reporting system can be found by calling the Ministry of Finance from Monday to Friday, at (506) 2539-4647 or (506) 2284-5000







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Do you know any producer who can benefit from the new simple system for filing sales taxes? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com

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