On 17 September 2020, the Costa Rican Ministry of Finance has announced a plan to overcome fiscal impact of the COVID-19 pandemic. Accordingly, the plan includes a reduction in social security contributions for companies by at least 5% over four years. It also includes a tax on banking and securities transactions for a period four years, which is to be imposed at a rate of 0.3% for the first two years, followed by a reduction in the rate to 0.2%.
The plan proposes to increase the property tax on real estate by 0.50 percentage points and the elimination of exemptions to cooperatives, school salary, capital income and SUTEL, among others.
