February 19, 2021 Costa Rica's Executive Branch may extend period goods may stay in a tax warehouse Under a new decree, the Executive Branch may extend the period imported goods may stay in a tax warehouse during a national emergency. If the Executive Branch announces an extension, importers will have more time to keep imported goods in tax warehouses. Decree No. 9947, published, in the Official Gazette, allows Costa Rica's Executive Branch to extend the period goods may stay in a tax warehouse. The decree went into effect on February 17, 2021. Currently, goods may remain in a tax warehouse for up to one year. If the importation procedures for the goods are not completed within that period, the customs administration declares them to be abandoned. The decree adds a final paragraph to Article157 of the General Customs Law, allowing the Executive Branch to grant an extension of up to one year for goods in a tax warehouse. The Executive Branch may grant the extension when there is a national emergency. The decree will reduce the effects of the pandemic on importers by allowing them additional time to keep goods in tax warehouses. ———————————————
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