January 5, 2022 Costa Rica's Tax Authority publishes new Income Tax Law Regulation Taxpayers should follow the provisions in the decree as it replaces the previous Income Tax Law Regulation. Costa Rica's Tax Authority published Executive Decree No. 43198-H (new Income Tax Law Regulation), which incorporates the provisions enacted as part of the tax reform in 2018 into the Income Tax Law. It also includes provisions from the previous Income Tax Law Regulation that still apply. The new decree renumbers the articles of the previous Income Tax Law Regulation and amends Article 12 bis (now Article 18) on non-deductible expenses, Article 3 quarter (now article 6) on the taxation of movable capital, Article 22 (now Article 30) on withholding taxes and Transitory Disposition Nos. I, II and VII. This decree went into effect on December 17, 2020 and repealed Executive Decree No. 18445-H (the previous Income Tax Law Regulation). ———————————————
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