Modification of the income brackets for the 2019 fiscal year salary tax

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Modification of the income brackets for the 2019 fiscal year salary tax

Modification of the income brackets for the 2019 fiscal year salary tax

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June 28, 2019

The modification of the income brackets for the single tax on income obtained from dependent personal work, for from retirement, pensions or other remuneration for personal services, better known as Salary Tax, was published on Tuesday June 25 in the Official Gazette. These brackets will be valid for only 3 months, from July 1 to September 30, 2019. An update will be published for the new fiscal period set to begin on October 1, 2019.

With the entry into force of Law of Strengthening Public Finance, 2 new sections were added to the Salary Tax.

The new income brackets for the Salary Tax will be the following:

Colones	Dolars	Rate
Up to ¢817,000.00 monthly	Up to $1,391.51 monthly	Exenta
In excess of ¢817,000.00 up to ¢1,199,000.00 monthly	In excess of $1,391.51 up to $2,042.13 monthly	10%
In excess of ¢1,199,000.00 up to ¢2,103,000.00 monthly	In excess of $2,042.13 and up to $3,581.83 monthly	15%
In excess of ¢2,103,000.00 up to ¢4,205,000.00 monthly	In excess of $3,581.83 and up to $7,161.95 monthly	20%
In excess of ¢4,205,000.00 monthly	In excess of $7,161.95 monthly	25%

* Rounded amounts in relation to the exchange rate as of June 25, 2019.

Dentons Muñoz has expert professionals in the field who can advise and give you the necessary legal support to comply with your tax obligations. Do not hesitate to contact our Tax Department to obtain more information about the scope and implications of this new regulation.