Duty-free importation of household effects and car from 2021
Duty-free importation of household effects and car from 2021
ARTICLE 5- Incentives. The persons covered by this law enjoy the following incentives:
a) Duty-free and all import taxes are one-time, for the import of household items. They can include their relatives in the applications for immigration purposes. Household items are all new or used items that are of an appropriate type and quantity to meet the needs of the beneficiary and his or her immediate family members, including, but not limited to, home furnishings, electrical appliances, home accessories, kitchen and bathroom utensils, and bed linen.
If the beneficiary transfers this property within the period of validity of the benefits granted under Article 12 paragraph 2 of this Law (5 years), he must pay the taxes from which he was exempt.
In highly qualified situations where the destruction or loss of household goods occurs, the beneficiary can purchase other assets to replace them, which are also tax-free. The regulations to this Act will develop the accreditation mechanisms of the circumstances in which these qualified exemptions apply.
b) Beneficiaries may import up to two vehicles, aircraft and/or boats, for personal or family use free of all import, customs and VAT taxes. In the event of loss of the vehicle due to theft, total destruction by fire, flood, collision or accident during the validity period of the benefits provided under Article 12(2) of this Law, the owner may import another vehicle tax-free.
The beneficiary of this Law, having imported a vehicle under the conditions referred to in the previous paragraph, may sell or transfer it to third parties, in which case the provisions of Article 10 of Law 7088, Tax Adjustment and Processing, shall apply. 18. CA Tariff and Customs Council, November 30, 1987.
c) The amounts declared as income in order to benefit from the benefits of this Law are exempt from income tax.
However, the income obtained domestically from the investments made domestically is taxed with income tax in accordance with the provisions of Law 7092, Income Tax Law of April 21, 1988.
d) Exemption of twenty percent (20 %) of the total real estate transfer tax for real estate acquired under this Law, provided that the beneficiary is the registered owner of the asset.
If the beneficiary transfers this property within the period of validity of this law, he will have to pay the taxes from which he was exempt.
e) Exemption from import tax for instruments or materials for professional or scientific practice carried out by the person with the investor, pensioner or pensioner migration category. The person must prove to the Ministry of Finance that the import corresponds to his economic activity and meets criteria of proportionality and appropriateness.
http://www.pgrweb.go.cr/scij/Busqueda/Normativa/Normas/nrm_texto_completo.aspx?param1=NRTC&nValor1=1&nValor2=4099&nValor3=4339&strTipM=TC
Duty-free importation of household effects and car from 2021
ARTICLE 5- Incentives. The persons covered by this law enjoy the following incentives:
a) Duty-free and all import taxes are one-time, for the import of household items. They can include their relatives in the applications for immigration purposes. Household items are all new or used items that are of an appropriate type and quantity to meet the needs of the beneficiary and his or her immediate family members, including, but not limited to, home furnishings, electrical appliances, home accessories, kitchen and bathroom utensils, and bed linen.
If the beneficiary transfers this property within the period of validity of the benefits granted under Article 12 paragraph 2 of this Law (5 years), he must pay the taxes from which he was exempt.
In highly qualified situations where the destruction or loss of household goods occurs, the beneficiary can purchase other assets to replace them, which are also tax-free. The regulations to this Act will develop the accreditation mechanisms of the circumstances in which these qualified exemptions apply.
b) Beneficiaries may import up to two vehicles, aircraft and/or boats, for personal or family use free of all import, customs and VAT taxes. In the event of loss of the vehicle due to theft, total destruction by fire, flood, collision or accident during the validity period of the benefits provided under Article 12(2) of this Law, the owner may import another vehicle tax-free.
The beneficiary of this Law, having imported a vehicle under the conditions referred to in the previous paragraph, may sell or transfer it to third parties, in which case the provisions of Article 10 of Law 7088, Tax Adjustment and Processing, shall apply. 18. CA Tariff and Customs Council, November 30, 1987.
c) The amounts declared as income in order to benefit from the benefits of this Law are exempt from income tax.
However, the income obtained domestically from the investments made domestically is taxed with income tax in accordance with the provisions of Law 7092, Income Tax Law of April 21, 1988.
d) Exemption of twenty percent (20 %) of the total real estate transfer tax for real estate acquired under this Law, provided that the beneficiary is the registered owner of the asset.
If the beneficiary transfers this property within the period of validity of this law, he will have to pay the taxes from which he was exempt.
e) Exemption from import tax for instruments or materials for professional or scientific practice carried out by the person with the investor, pensioner or pensioner migration category. The person must prove to the Ministry of Finance that the import corresponds to his economic activity and meets criteria of proportionality and appropriateness.
http://www.pgrweb.go.cr/scij/Busqueda/Normativa/Normas/nrm_texto_completo.aspx?param1=NRTC&nValor1=1&nValor2=4099&nValor3=4339&strTipM=TC
