Costa Rica Tax Evasion Is Down

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    San Jose [TCRN] – Tax evasion is down from 32% to 29% in 2010, but difficult to track sales in Costa Rica

    The Costa Rican-annually, evade $2.4 million in taxes. This follows from the first study on tax avoidance by the Ministry of Finance.

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    This amount corresponds to 5.8% of gross domestic product (GDP). This is accomplished primarily done by taking advantage of ambiguities and gaps in the law, explained the new Deputy Minister of Revenue.

    In the case of Sales Tax, Treasury study concluded that there was a breach of 29% of the potential tax collection, which represents 0.9% of GDP. This figure is below the average of comparable countries such as evasion of Argentina, Panama, Colombia and Uruguay and is lower than in Costa Rica in 2009 when it reached 32%.

    In the case of sales, revenue could be increased with a greater effort, but it is a complex and would facilitate further tax evasion, in most countries you have the Value Added Tax in Costa Rica has a Sales Tax, but you can use tax credit, then you the issue of exemptions.

    Tax evasion was higher in 2010 largely by the economic crisis hit the country in 2009, however, there is often no way to cross the sales information declared income.

    The Costa Rica News (TCRN)
    San Jose Costa Rica

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