By the A.M. Costa Rica staff

According to data provided by the Ministry of Finance as of August 20th, taxpayers reported $234,052,515 in VAT, for the month of July.

Of that amount, the government collected $137,763,769, which is equivalent to the collection of 58% of the total reported taxes.

The remaining 42 percent was registered as credits in favor of taxpayers.

"The results fill us with satisfaction, because it shows the interest of taxpayers in complying with tax obligations, and because it marks the beginning of the behavior of one of the most important taxes for the country," said Rocío Aguilar, Minister of Finance.

In addition, 360,150 taxpayers reported tax through the new online platform, Virtual Tax Administration, known as ATV for its acronym in Spanish. That is equivalent to 83 percent of total registered taxpayers.

The total taxpayers registered with the Ministry are 430,000; however, many of these are classified as new taxpayers. This is because, before the new tax law, many goods and services were tax-exempt.

Taxpayers in the category of new taxpayers have time until September 30, to submit the tax form.

As A.M. Costa Rica has been reporting, the declaration of the Value Added Tax D-104, known as VAT tax, must be reported thought the ATV platform every day15th of the month.

According to the Ministry, in this ATV platform, more than 200,000 new taxpayers were registered during August.

The VAT tax report applies to all representatives of companies or professionals, responsible for declaring the value-added tax that began to be charged since July 1st.

The declaration must be submitted every month, even if there has been no income on the sale of goods or professional services.

D-104 form has a series of new modifications and is mandatory since December 2018, when was approved the new tax law.

The fine, for not reporting the IVA tax before the due date, could be about $390.

For more information on the new form of VAT tax declaration, the Ministry enabled the section VAT Taxes on its website, available only in Spanish here.*








-------------------------
Did you have to declare a VAT tax through the ATV platform?   We would like to know your thoughts on this story. Send your comments to news@amcostarica.com

---

---

Want to write or gripe
about Costa Rica?

Want to submit an event
to our calendar?

Send all the information news@amcostarica.com

Profile pictures are welcome too !

-No defamatory pieces will be accepted.
-We reserve the right to publish.

---

---