Costa Rica will provide VAT benefits for SMEs

Costa Rica will provide VAT benefits for SMEs 

The Legislative Assembly of Costa Rica is considering Bill 21.963, which was received on May 5, 2020. The bill provides for temporary exemption of VAT for SMEs from charges for water and electricity consumption, as well as exemption from rent. If approved, the exemption will apply for one year, starting with the state of emergency of Costa Rica due to the COVID-19 pandemic. A state of emergency was declared on March 16, 2020.

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