Owners of vacation residences must pay their taxes │ Costa Developers

taxes

Hoteliers indicate that there is a disparity between the application of taxes for hotels and vacation properties.

A new clarification in the records of the Costa Rican Tourism Institute (ICT) and the Ministry of Finance has intensified efforts to strengthen tax and patents that are paid on the residences holidays throughout the country.

"No we are trying to discourage the renters" said Herman Navarro, the Manager of tourism by the ICT.

the incomes from rentals properties in Costa Rica emerged on the scene after the crisis of 2008 by people who owned vacation properties and stopped coming, so it began to rent their properties or sold them to rental companies." This has led to reducing the demand of visitors to hotels.

The owners of the hotels think that competition is not what causes affectations, but that hotels should cancel taxes unlatched to vacation properties, ranging from sales tax, social security for its employees, payments to the Ministry of health and others not.

To start the implementation of this new law, the Ministry of finance in conjunction with the ICT conducted an investigation where it was found that there are several of these properties, for example in Jaco Beach about 23, Manuel Antonio a 36 and on the coast of the Caribbean a 38.

The ICT indicates that this represents unfair competition among hotels and rental properties, since every dollar earned by the hotels is to re invest about three or four times, while investing in 1 or 1.3 times for vacation properties.

This occurs because the vacation properties should not be so frequent in infrastructure, services and personnel investments. In some places, hotels pay an amount to those in charge of monitoring the coast, while the properties not canceled these amounts and receive the benefits.

This aims to of there is a balance of occupation between independent vacation properties and hotels which offer the same service to both.

Posted by Costa Developers

Costa Rica will see an increase in the sale of commercial properties

Costa Rica Real Estate indicates that it has been an interest of investors for commercial properties in the country.

Costa Rica Real Estate, entity of real estate in the country indicated that foreign investors not only seek properties of rest and pleasure, but have also shown great interest in the purchase of commercial real estate.

Investors are increasingly seeking a diversification of its business, adding to its portfolio of properties, those of commercial type, which generates an important benefit for Costa Rica in terms of popularity internationally and market growth.

"Almost daily we receive calls from investors seeking to invest in commercial properties, including hotels, restaurants and other tourism businesses," mentions Costa Rica Real Estate sales manager Jerad Portner.

This not only indicates that there are many business possibilities and opportunities for persons seeking re located in the country, but is also a sign that the easy access to the Costa Rican market has allowed foreigners see the country a source of income and a place to live in retirement.

Some of the factors that attract more investors are the fact that Costa Rica meet unique conditions and possibilities for their businesses to grow and thrive in the country, among the most significant factors are: a high standard of living with a wide expectation, excellent medical conditions, pleasant temperatures and its educational system.

Also plays a role in this phenomenon of business purchase, the closeness that exists in Costa Rica with many cities in the United States, for example, short flights and almost daily that has been growing by several airlines allow investors living only a few hours of its business establishments, easy access and reception afforded to foreigners also stimulates these purchases.

Costa Developers offers you the possibility of acquiring a property in one of the country's major tourist areas, if you seek to become a businessman in Costa Rica, this mode is of great benefit, because you'll save money if you purchase a property that you can use some times a year, without assuming the total cost and not pay high hotel bills whenever you comes to the country to oversee your business.

Posted by Costa Developers

Construction finished as San José’s Avenida 10 reopens

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After 10 months of repairs, a major thoroughfare in downtown San José has reopened to traffic.

San José mayor Johnny Araya and members of the construction company CEMEX inaugurated the revamped Avenida 10 Thursday morning.

San José municipal officials on Thursday inaugurated a newly paved 10-block stretch of Avenida 10, one of the main east-west routes through the city.

Repairs were made between calles 8 and 11 by the company CEMEX and included 8,000 square meters of concrete pavement. Workers also installed 4,000 square meters of new sidewalk. The total cost of the project was $1.2 million.

“We know this project caused a lot of inconvenience for several months,” San José Mayor Johnny Araya said. “The reconstruction of Avenida 10 was carried out in six phases to make it as orderly as possible.”

“Not only does this project beautify the city, but it also provides additional benefits such as a longer life for the road because it’s made of concrete,” Roberto Pongutá, director of CEMEX Costa Rica, said.

The Avenida 10 project is part of a plan to rebuild 38 city blocks.

Posted by Costa Developers