By the A.M. Costa Rica staff
Here is a basic outline of the Chinchilla administration tax proposal:
• No income tax increase for those earning 651,000 colons or less a month, about $1,300.
• Passive income like rents and interest would be subjected to a 15 percent tax.
• The current 13 percent sales tax would be replaced by a 14 percent value-added tax.
• Many now-exempt food products would be included in the new value-added tax
• Medicine would be exempt from the value-added tax
• A 14 percent value-added tax would be assessed on the services of professionals and contract workers, such as lawyers, accountants, physicians and dentists.
• A 14 percent value-added tax would be assessed on private health care.
• The tax would be assessed on utilities like water and electricity.
• Public transportation, buses and taxis, would be exempt from the 14 percent value added tax.
• Registered small- to medium-sized companies would pay from 10 to 25 percent income tax.
• A 3 percent tax would be assessed on the sale of property. That is twice the current rate.
• Tuition to accredited private educational institutions would be taxed at 10 percent. Tuition at unaccredited schools would be taxed at 14 percent.
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