{"id":272,"date":"2020-12-22T23:29:46","date_gmt":"2020-12-22T23:29:46","guid":{"rendered":"https:\/\/www.langcr.com\/content\/?p=272"},"modified":"2020-12-22T23:29:46","modified_gmt":"2020-12-22T23:29:46","slug":"update-of-income-salary-and-earnings-tax-brackets-and-tax-credits-applicable-as-of-january-1st-2021","status":"publish","type":"post","link":"https:\/\/www.langcr.com\/content\/update-of-income-salary-and-earnings-tax-brackets-and-tax-credits-applicable-as-of-january-1st-2021\/","title":{"rendered":"Update of Income, Salary, and Earnings Tax Brackets, and Tax Credits applicable as of January 1st, 2021"},"content":{"rendered":"

The Tax Authority in Costa Rica has enacted a modification to the Income, Salary, and Earnings Tax Brackets to be applied as of January 1st<\/sup>, 2021. This change to the Law on Income Tax signifies an adjustment of 0.28% to the income tax brackets as shown below.<\/p>\n

Income Tax Brackets<\/strong><\/p>\n\n\n\n\n\n\n\n\n
<\/td>\nApplicable Tax %<\/strong><\/td>\n<\/tr>\n
Up to CRC 842,000.00<\/strong> per month.<\/td>\nWill not be subject to tax<\/td>\n<\/tr>\n
On the excess of CRC 842,000.00<\/strong> per month and up to CRC 1,236,000.00<\/strong>.<\/td>\n10%<\/td>\n<\/tr>\n
On the excess of CRC 1,236,000.00<\/strong> per month and up to CRC 2,169,000.00<\/strong>.<\/td>\n15%<\/td>\n<\/tr>\n
On the excess of CRC 2,169,000.00<\/strong> per month and up to CRC 4,337,000.00<\/strong>.<\/td>\n20%<\/td>\n<\/tr>\n
On the excess of CRC 4,337,000.00<\/strong> per month.<\/td>\n25%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Also, tax credits will be adjusted following the said modification. Employees can deduct CRC 1,570.00 for each child, and CRC 2,370.00 for the spouse.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Tax Authority in Costa Rica has enacted a modification to the Income, Salary, and Earnings Tax Brackets to be applied as of January 1st, 2021. This change to the Law on Income Tax signifies an adjustment of 0.28% to the income tax brackets as shown below. Income Tax Brackets Applicable Tax % Up to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"yoast_head":"\nUpdate of Income, Salary, and Earnings Tax Brackets, and Tax Credits applicable as of January 1st, 2021 - Lang<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.langcr.com\/content\/update-of-income-salary-and-earnings-tax-brackets-and-tax-credits-applicable-as-of-january-1st-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Update of Income, Salary, and Earnings Tax Brackets, and Tax Credits applicable as of January 1st, 2021 - Lang\" \/>\n<meta property=\"og:description\" content=\"The Tax Authority in Costa Rica has enacted a modification to the Income, Salary, and Earnings Tax Brackets to be applied as of January 1st, 2021. 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