Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
Indirect tax snapshot
Please click on each section to expand further:
Value Added Tax or General Sales Tax (GST) is the main type of indirect taxation in Costa Rica. It levies the sales of goods and certain services. A transaction will be subject to GST if it takes place in Costa Rica by a taxable person, that supplies sales of goods and services in the usual way.
The standard rate is 13%; electrical energy consumption in the residential sector has a reduced rate of 5%. Exceptionally, some services are subject to GST. There is a list of the taxed services such as restaurants, advertising, parking and hotel.
The law stipulates exemptions to the basic goods basket, exports, medicines, veterinary products, agricultural inputs, books, and other goods. The importation of goods is taxed, but the importation of services isn’t.
When the vendor sells the good or the service to the consumer, the tax will be charged in the invoice. Consequently, the taxpayer is the final consumer, but the seller must withhold the VAT. Hence, the seller charges the GST on its sales and pays GST on its purchases, the difference between both will be the amount of GST payable to tax authority.
The non-resident suppliers of electronically supplied or digital services to resident consumers are not subject to GST in Costa Rica. The main reason is that importation of services is not taxable and they are not provided in Costa Rica as a frequent commercial activity.
To register a non-established business with the tax authority as a taxpayer, the non-established business must appoint a fiscal representative, who could be resident or non-resident in Costa Rica. Also, the non-established business must appoint a residential agent, who will receive all the communications.
GST returns and payment must be done on a monthly basis. The sworn statement of sales corresponding to the previous month must be submitted no later than the fifteenth calendar day of each month. At the moment of presenting it, the respective tax must be paid.
The failure of filling the statement or a late submission of the return will have a fine equivalent to fifty percent (50%) of the basic salary.
An informative statement of the purchases and sales of goods and the services undertaken in Costa Rica to the same person and for an amount higher than 2.500.000 colones (local currency).
Yes, penalties can be imposed for a range of errors or omissions, namely the late payment of the tax, resistance to administrative control or repeated failure to provide information to the administration.
No. There is no possibility to reclaim the VAT paid in other country.
A VAT invoice must include:
• full name of the owner or business
• registration number
• invoice number
• invoice date
• conditions of sale: cash, credit, etc
• name of the printer (imprint) and the identification data of the print out
• full name of the buyer or company name
• natural or legal identification number, if the buyer is a taxpayer
• detail of the merchandise transferred, or nature of the service provided, unit price and transaction amount expressed in national currency or foreign currency
• discounts granted
• amount of the selective consumption tax, when the seller is also a taxpayer of the indicated tax and the amount of any other tax
• the value of the services provided or merchandise, separating taxed and exempt
• net sale price (without tax)
• amount of the tax equivalent to the rate applied on the net sale price, with the indication ‘Sales Tax’ or the acronym ‘VAT’
• total value of the invoice.
Electronic billing is being implemented in the country and it is mandatory for businesses to issue, receive and keep the digital invoice of all sales of goods and services.
For further information on indirect tax in Costa Rica please contact:
Mario Hidalgo Matlock