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Costa Rica Urged To Adopt VAT

by Mike Godfrey, Tax-News.com, Washington

29 December 2016

The International Monetary Fund has urged Costa Rican lawmakers to agree on much-needed consumption tax and income tax reforms.

The report said that the country has increased its income tax revenues and approved laws to tackle tax evasion. Corporate tax reforms are also before Congress.

However, the country's lawmakers have yet to green light the implementation a value-added tax in place of the current general sales tax, with the adoption of the levy beset by delays.

TAGS: Finance | tax | value added tax (VAT) | sales tax | VAT legislation | law | legislation | Costa Rica | tax reform

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