On Monday August 8th the Costa Rican Legislative Power (Asamblea Legislativa de la República) approved the surcharge of a new tax on all business associations recorded at the National Registry.

All business associations (corporation, limited liability partnerships, and all branches of foreign entities) will be subject to such levy.

The amount will vary depending on whether the entities are considered active or inactive as per the consideration of the General Tax Direction (Dirección General de Tributación). The term is of a calendar year and will rule after 2013 from January 1st to December 31st.

The law does not include micro and small companies registered as such with the Economy Chamber of Government (Ministerio de Economía, Industria y Comercio) and which are also registered as tax payers with the tax authorities.

The law will come into force next April 1st and the tax shall be paid on or before April 30th, 2012.