In the previous post we told you some generalities that are taking place around the Declaration of Inactive Companies in Costa Rica. Now we will share with you the relevant and central aspects proposed.
The inactive companies would no longer use the same tax form D-101 that active companies with lucrative activity use, but a specific form called "Informative Declaration of Inactive Legal Entities D-195."
The legal representatives shall submit the tax form by April 30 of each calendar year.
The summarized informative form D-195 must reflect the corporate assets and obligations corresponding to the ordinary fiscal period of the tax on the previous year's profits, which covers from January 1 to December 31 of each year.
The D-195 will be available on the digital platform "Virtual Tax Administration ( ATV)" from the official website of the "Ministerio de Hacienda."
Non-compliance will carry heavy fines and penalties.
Please consider that you must hire a CR accountant to submit this tax filing, as the balance sheet and corporate accounting records are mandatory. Your accountant or authorized person will access the ATV -tax site for online tax submission- to submit the forms on behalf of your corporation
The corporate books shall be updated with the same information declared on the tax forms to reflect all agreements related to the corporation's balance, assets, liabilities, and equity value.