Taxpayers should prepare now for the new forms. Because taxpayers who complete transactions through an electronic invoice do not have to report those transactions on Form D-151, fewer taxpayers may be required to file the form.

Costa Rica's tax authorities have issued Resolution No. DGT-R-071-2019 (the Resolution), modifying Form D-151, "Annual Return for Customers, Suppliers and Specific Expenses," which is used to report financial and professional transactions between taxpayers.

For transactions between taxpayers, the Resolution eliminates the threshold of a minimum accumulated annual amount of Costa Rican Colónes 2.5m (approx. US $ 4,395) for filing Form D-151.

Additionally, the Resolution does not require taxpayers to include on Form D-151 transactions subject to the Regulation of Electronic Vouchers and those that have been reported with the details required by Resolution No. DGT-R-042-2015 through a self-assessment declaration. Taxpayers also do not have to include on the form imports and exports of goods, or transactions in which they apply and report a withholding tax.

The Resolution modifies electronic Form D-152, "Summarized Annual Return of Single and Definitive Withholding Taxes," to expand the list of codes under which withholding may be applied.

Additionally, the Resolution modifies the period for which information must be reported from October 1 through September 30 to January 1 through December 31.

The modifications to the forms will be effective for fiscal year 2020.

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