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February 19, 2024 Costa Rican Tax Authority now requires National Large Taxpayers declaring losses or zero profits to automatically submit audited financial statements
On 15 February 2024, Resolution No. MH-DGT-RES-0002—2024, issued by the Tax Authority, was published in the Official Gazette (available here, only in Spanish). This resolution introduces significant changes for National Large Taxpayers who report losses or zero profits on their Corporate Income Tax returns. Key changes Under the new resolution, National Large Taxpayers who declare losses or zero profits are now required to provide their audited financial statements without any prior request from the Tax Authority. These statements must be submitted within three months following the close of the Corporate Income Tax fiscal year. An extension of this deadline may be granted for an additional three months, should the taxpayer present a duly justified request due to unforeseeable circumstances or force majeure, at the discretion of the Tax Authority. Background and previous requirements Prior to the reform, the Tax Authority was required to formally request the submission of audited financial statements from taxpayers that had declared losses or zero profits, allowing a three-month period for compliance. This period could also be extended by another three months upon a justified request by the taxpayer. Implications for Fiscal Year 2023 For the Fiscal Year 2023, National Large Taxpayers declaring losses or zero profits must submit their audited financial statements within three months after the deadline for filing their Income Tax return. Other amendments Additionally, amendments have been made to articles 4, 5, and 6 of Resolution No. DGT-R-46-2014, concerning specific criteria for the presentation and submission of audited financial statements. Effective date and retention of other provisions The changes introduced by Resolution No. MH-DGT-RES-0002—2024 are effective upon their publication in the Official Gazette. All other provisions contained in Resolution No. DGT-R-46-2014 remain in effect.
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