What are the new fiscal measures proposed by the government for agreement with the IMF?

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The tax on electronic transactions and checks is part of the 9 temporary tax measures on income, expenditure and assets.

This will charge a small fee for all banking and securities transactions for four years. The first two years will be 0.3%; In other words, in a transaction of ¢ 10,000, ¢ 30 will be paid and in a transaction of ¢ 100,000, ¢ 300. In the next two years, the charge will drop to 0.2%; That is, ¢ 20 would be paid in a transaction of ¢ 10,000 and ¢ 200 in a transaction of ¢ 100,000.

It is projected that with this tax it is possible to finance what will no longer be received by social charges and the reduction of public debt.

Another temporary measure is the extraordinary income tax on salaries (and pensions), profits and remittances abroad.

In the case of salaries, this extraordinary tax will not affect salaries of less than ¢ 840,000. In which cases does it apply? An additional 2.5% will be charged for income greater than ¢ 840,000, an extra 5% for income greater than ¢ 1,233,000 and an additional 10% for income greater than ¢ 4,325,000.

As for profits, it does not apply to those people or companies that do not receive profits. In the case of individuals with lucrative activities, those with net income greater than ¢ 3,638,000, an additional fee will be charged that will progressively increase from 2.5 percentage points to 10 percentage points in the last tranche. For legal entities with a gross income greater than ¢ 109,228,000, an additional rate of 6 percentage points will be applied to their net profit. For those legal entities with gross income less than ¢ 109,228,000, for the first ¢ 5,143,000 of net income, an additional fee will be charged that will progressively increase from 2.5 percentage points in the first tranche, to an additional 10 percentage points in the last stretch.

In addition, 5% will be charged for remittances abroad to all income from Costa Rican sources of natural and legal persons not domiciled in Costa Rica.

They also propose an increase in the property tax on real estate by 0.50 percentage points and the elimination of exemptions to cooperatives, school salary, capital income and SUTEL, among others.

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