Costa Rica income tax revenue drops in 2012

January 17, 2013

Finance Minister Édgar Ayales reported Thursday that Costa Rican companies paid less income tax last year.

In 2011, business income taxes generated ₡485 billion ($970 million), but in 2012, that amount decreased to ₡461 billion ($922 million).

The income tax from the corporate sector represents 75 percent of total income taxes collected in the country.

The remaining 25 percent is provided by individuals or professionals. However, the Finance Ministry reported that tax payments by professionals improved last year, with an increase of 31 percent.

Ayales also reported that the country’s fiscal deficit was 4.4 percent of gross domestic product in 2012, a figure lower than the 4.8 percent projected by government officials, but which also means that Costa Rica began this year with a debt of ₡1 billion ($2 million).

Facebook Comments

You may be interested

Off the eaten path: Bar y Restaurante Rio de Janeiro
Dining and Nightlife
130 views
Dining and Nightlife
130 views

Off the eaten path: Bar y Restaurante Rio de Janeiro

William Ayre - October 19, 2018

Apart from its name and a mural inside featuring the namesake city in Brazil, Rio de Janeiro is a very…

Buchón cantina: Spritz cocktails to dine for
Dining and Nightlife
925 views
Dining and Nightlife
925 views

Buchón cantina: Spritz cocktails to dine for

Natalia Díaz - October 18, 2018

Buchón was the first place I tasted the Aperol Spritz, months before it became fashionable around San José. In fact,…

Tico Times Shade: What does ‘middle class’ mean in Costa Rica?
Tico Times Shade
3274 views
Tico Times Shade
3274 views

Tico Times Shade: What does ‘middle class’ mean in Costa Rica?

Alejandro Zúñiga - October 18, 2018

It’s not often The Tico Times writes an explainer about basic Costa Rican daily living that’s equally surprising to a…