- The Law amends the Income Tax Law and establishes the possibility of filing corrective income tax returns without interest for retroactive payments.
- The Law benefits the employee by applying the tax rate based on the accrual of income.
- The Law has been in force since its publication in today's Scope No. 88.
This week, Law No. 10469 was published in the Daily Scope No. 88 ".Tax Justice Law on retroactive payments by amending Article 33 of Law 7092, Income Tax Law of April 21, 1988."This amendment amends the wording of Article 33 of the Income Tax Law.
The main change is that in the case of retroactive income, employers must rectify the return in the period in which the income was accrued, however, they will not generate interest for late payment to the Tax Administration in the corresponding cases.
Dahianna Jimenez, in charge of the ICS compliance team, emphasizes that the reform benefits both the employers at the moment of complying with the formal duty of withholding and declaring the tax, as well as the correct application of the tax rate to the employee's salary according to the moment of accrual of the income.
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