Free Zones are Exempt from Real Estate Taxes and Land Taxes

deputies to approve
deputies to approve

Avoiding any confusion regarding the exoneration of taxes in favor of the Free Zones, motivated the deputies to approve today in the second debate, a project that clarifies that the companies located under said regime, will not have to pay even real estate taxes, nor land taxes.

The initiative is essential at a time when it is necessary to boost the economy and generate employment. The Coronavirus has left a serious impact, including possible unemployment of up to 20%, according to estimates by business chambers.

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“For years there has been confusion between the real estate tax and the land tax, which after all have the same connotation; however, this exemption provided for this special regime for attracting investment and jobs is not currently applied uniformly in all municipalities and Free Zones,” said deputy Luis Fernando Chacón.

Resonance Costa Rica

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