QCOSTARICA – Of course, I’m referring to the Government having the necessary intestinal fortitude to deal with the current economic crisis. Costa Ricans by nature do not like conflict, hence the most famous saying that is repeated over and over, “Pura Vida”(translation: the good life; the pure life; or all is well; take your pick), supposedly is a reflection of life in Costa Rica on a daily basis.
Lately, on the Executive Branch side of the Government, we’ve heard from primarily the President and the Minister of Hacienda (Tax Department), promoting a fiscal reform package that would increase personal income taxes, substitute a VAT tax for the current Sales Tax and increasing the Tax from 13% to 15%, and proposing measures to fortify the tax collection process. One of the most recent Decrees from the President, provides the Tax Department with the power to require Lawyers and other professionals, to disclose certain client information for tax purposes. This, of course, … continue reading