Vol.18  No.720 Friday  Edition, July 20 , 2018 Fourth news page
Calendar
Tourism
Classifieds
Real Estate
Lifestyle
Food
About Us

Government has reduced luxury pensions
Rectangulo110117.jpg

By A.M. Costa Rica staff

The government announced that it saved ₡6.2  billion colones from January 2017 to June 2018 due to a reduction in payments for so called luxury pensions to 401 persons.

According to the government, the maximum payment for luxury pensions is now ₡2.7 million per month, approximately $4,800 per month.

The only officials who still receive a larger amount on pensions are employees from the National Magisterium and the Judiciary Ministry.

However, people receiving those pensions must now pay a tax on payments that exceed a base amount. As an example, a person with a pension of  5 million colones per month must now pay a tax equivalent to 800,000 colones, about 34 percent of the amount over the base.

Not all the National Magisterium retirees have to pay the luxury pensions tax as there is still a group of 304 people who are exempted by a pension agreement.

President Carlos Alvarado reiterated the commitment to do everything possible to reduce the fiscal deficit.

He added, "in a fiscal situation like the one we are facing, it is not acceptable to defend pensions with such high amounts. We must all contribute to the solution."

There is still much to be done to eliminate abuse in luxury pensions, officials said.

An additional measure is to remove the special exemption enjoyed by 340 pensioners of the National Magisterium who cannot be charged the tax on luxury pensions.

According to calculations of the National Pensions Directorate, if that exemption could be removed, the government could save ¢ 1.8 billion a year.

"We are making an important effort to accelerate the process of reviewing and sending the files to which the exoneration elimination should be applied, so that we can generate more savings," said the minister of Labor and Social Security, Steven Núñez Rímola.

Rectangulo110117.jpg
LuxuryPension072018.jpg
 A.M. Costa Rica wire services photo       

According to calculations of the National Pensions Directorate, the government could save ¢ 1.8 billion a year.



There are three law reforms to reduce government spending in the payment of luxury pensions.

- The law that limits the maximum amount of pensions.

- The law that prohibits increasing the pensions of ex-lawmakers, by 30 percent each year.

- The law that increased the retirement age in some organizations. In this case, some government employees can request pensions even if they are younger than the standard age of 65.

- The law that decreases the amount of pensions for employees of the Judiciary Ministry.


Vacation, travel and hospitality (paid category)


Live in
                          Costa Rica tours

  • Costa Rica’s #1 source for relocation since 1980
  • HIGHEST RELOCATION RATE over 10,000 people relocated SUCCESSFULLY with our tours and books
  • ONLY relocation tour legally LICENSED by the Costa Rica government and APPROVED by the Association of Residents (ARCR)
  • Best VALUE, contacts and MORE areas of the country covered
  • ALL tours include a highly INFORMATIVE two-day seminar by the country’s renowned experts
Sample Video of the tour HERE

Toll Free from U.S. 877-884-2502 or 800-365-2342
Costa Rica LANDLINE 011-506-2261-8892
Costa Rica MOBILE 011-506-8849-0081
Skype: costarisa - E-mail: christopher@costaricabooks.com

All tours led by Christopher Howard
Costa Rica’s most read relocation author
See www.liveincostarica.com for details and itineraries

Code:9168-3/17/17**



HGTopImage050418.jpg

Visit the Largest Gallery in Costa Rica

Featuring artistic expressions of Costa Rican culture, heritage and traditions, the Hidden Garden Art Gallery has been your source for fine art since 2010.  Fifteen rooms of art in a beautiful, tranquil setting, with more than 65 artists showcasing traditional and contemporary paintings, sculpture, photography and giclée prints.  

Located just 5 kms west of the Daniel Oduber International Airport (LIR) towards the beaches.

Stop in for a visit and enjoy the view!

HGentryImage050418.jpg

Visit our Web site at:  www.HiddenGardenArt.com 
Contact us by email: info@HiddenGardenArt.com   

Find us on Trip Advisor, Facebook, Twitter, Moon Travel Guides & Frommer's


Gallery hours: Tuesdays-Saturdays, 10 a.m. to 4 p.m.
C.R. phone: 8386-6872 / 2667-0592
U.S. phone: 702-953-7073

Code:9371-080618

9214-8/2/17

U.S. Income Tax Services
(paid category)

Summers102317.jpg U.S. Income Tax Services
Marlene B. Summers
T
ax Accountant
Let’s discuss your tax situation.

Marlene
                                  Summers
The IRS has become more aggressive and if you have not filed, you must do so. 

However, there are solutions to problems and your situation may be better than you think.

If your filing is not up to date, Streamlined Filing can be used with no penalties.
Including disclosure of foreign corporations to avoid serious problems.

If tax payment is holding you back, the IRS has options to solve payment problems.

You can file current or past due FBARs without payment to meet IRS  requirements.

If you have yet to file, do it now as there is still time.

Over 20 years in Costa Rica
and Silicon Valley.
Competitive rates.

Phone (506) 2289-6590 ; Cell (506) 8750-2316
Email: marlene.summers@gmail.com

Code:9186-6/30/17




       Household Furnishings
(paid category)

FINEF011718.gif

Fine Furniture of Sarchi
All our handcrafted products are made in Sarchi with pride and quality by artisans who are dedicated to designing, crafting, and delivering our furniture to you. Please visit our website and send us a picture and specifications of what YOU like, or just send us pictures from anywhere you wish. We will quote you right back with a more than competitive price and an on-time delivery date. Delivery and set up available throughout Costa Rica. We have different Costa Rican woods from which you may choose. 
www.FineFurnitureOfSarchi.com
Contact information:
Adolfo's Cell: +506-8831-4306
E-mail: Info@FineFurnitureOfSarchi.com
or FineFurnitureOfSarchi@gmail.com



Shipping services
(paid category)

ShippingCR031018.gif
Moving to Costa Rica or Back to the U.S.?
  10 Years of Happy Clients
Canadian English or Spanish Spoken
Excellent Service, Competitive Prices
Call  (772) 361-1050
Email:   shippingcostarica@gmail.com
Our Web:  http://shippingcostarica.com
Free Ebook: How To Import to Costa Rica HERE!

Psychotherapy
(paid category)

DrGray031318.jpg

Dr. Lucinda Gray
California Licensed
Psychologist
International Practice

•  Video therapy makes it possible for you to have
top quality psychotherapy in the privacy of your own home
 • Anxiety
Depression
 • Relationship Issues
 •
Meditation Training 

Contact:
US (310) 827-4241
doclucinda@gmail.com
www.LucindaGray.com

Learn more about 
  New World Meditation: (Second Edition)
Discover True Happiness Thru
Experiential Healing 
Click Here
Code:9348-090618


U.S. Income Tax Services
(paid category)

James Brohl
James Brohl, C.P.A. & M.B.A.
US Income Tax,  U.S. GAAP Accounting
& Business Consulting
n
Specializing in all matters of concern to U.S. taxpayers residing abroad including:
n
• IRS filing requirements of foreign income tax exclusion (up to $102,100 for 2017).
• Past-due tax returns: Taxpayers filing before an IRS notice do not face criminal sanctions.
• Reporting foreign financial assets: FBAR and foreign corporations.
• Up-to-date FATCA news.
• All US Tax return preparation:
individual, business, estate and trust.
• eFile returns: secure with faster refunds.
• Business consulting to facilitate working in Costa Rica.
Telephone 8305-3149 or 2256-8620
E-mail jrtb_1999@yahoo.com



Click Here Go back and read again news page #3
......
Continue reading  news page #5 Click Here