The obligation to declare the final beneficiaries of all legal persons yearly.

A. Transparency and Final Beneficiary Declaration:

The obligation to declare the final beneficiaries of all legal persons yearly. This declaration is made by the legal representative of the corporation, through the digital platform “Central Directo” of the Central Bank of Costa Rica, using the digital signature certificate. We are at your service to carry out the required powers, register authorizations in the system and/or arrange an appointment to make the declaration with a member of our team.

The declaration must be submitted in April. In the event that a modification is made to the shareholding distribution, in which a partner acquires 15% or more of the share capital, a new declaration must be submitted within 15 days.

The non-fulfillment generates an economic fine equivalent to 2% of the gross income reported during the previous fiscal year; with a minimum of 3 base salaries, equivalent to US$ 2.100.

B. Legal persons tax:

Until January 31 there will be time to cancel the tax corresponding to legal persons, after that date an additional fine will have to be paid.

C. Registration of inactive legal persons in the Single Tax Registry and assets declaration.

Inactive legal persons (do not develop lucrative activity from a Costa Rican source), must be registered in the Single Tax Registry (RUT), through the digital platform Virtual Tax Administration (ATV), using the Taxpayer Registration, form D.140, which will update the information of the legal representative and address of the corporation.

Additionally, inactive legal persons must submit, annually, the information of their assets, liabilities and social capital, using the Declaration of Assets for Inactive Legal Persons, which will be available on the ATV digital platform.

The penalty for non-compliance will be 50% of the basic salary (US$375) for each month or fraction of the month of non-fulfillment.