The tax administration has published the new deadline for this requirement, the new date will be June 15th, 2022, now the corporation owners that haven’t complied with this mandatory requirements have a time window of 3 months to file the D-101 form for inactive corporations.

The D-101 Form for inactive corporations, also known as the “asset declaration form” has the purpose of having all corporations with no business activity to declare their Assets-Liabilities and Capital to the tax administration in an annual basis, this requirement was implemented in 2020 by the tax administration of Costa Rica in compliance with the requirements from OECD in order to improve the grade and international reputation in tax regulation matters. However, due COVID-19 and the limited amount of resources to attend all the inquiries and request from the tax payers, the tax administration ended up suspending the new requirement for 2020 making it mandatory to be declared for both 2020 and 2021 starting in 2022, the next tax period to be declared will be 2022 with the deadline in march 15th, 2023, and the same for the following years.

A very important step to follow regarding this requirement is also to update the writting in the legal books of your corporation updating the capital amount (normally just the shares) with the value of all the assets as extraordinary capital contributions, perhaps not complying with this is not fined as with the D-101 tax form, this legalize the assets of the corporations as part of the total capital. For this an act has to be written with the updated numbers (numbers come from the new tax form) and it’s added to the corporate books by your attorney.

In ConsultantsCR, we’re an integrated-customer focused firm, we can provide assistance with this and many more requirements and compliance, feel free to contact us anytime at info@consultantscr.com or our phone numbers in the contact section.