The ?rich coast?; the name of Costa Rica says it all. Everything about this beautiful country exudes richness and royalty. While the richness is not always in the monetary sense, visiting or living in Costa Rica will certainly be a happy and fulfilling experience for anyone who heads to this land. All you have to do to begin experiencing what Costa Rica has to offer is plan a vacation, or better yet, buy real estate in Costa Rica.
The richness of the landscape of Costa Rica gives locals and visitors alike a taste of nature, completely untouched, in many areas. Choosing a location for your own adventures in this country should involve finding a place to call home with access to the beautiful flora and fauna of this tropical land. Picture yourself starting each day to the sound of the birds in the green forests, coupled with the murmur of waves on pristine beaches. A home in Costa Rica can provide this all to you.
The richness of the culture of the area should not be ignored. The Costa Rica inhabitants are among the friendliest and most inviting people in the world. When choosing your own home in Costa Rica, straying too far from the local flavor will cause you to miss out on some of the most wonderful experiences and benefits of buying real estate in Costa Rica.
If you want to experience the true richness of Costa Rica, buying a beautiful piece of real estate in the area is the best way to go. CerroFresco.com offers some of the richest, most luxurious homes for sale in all of Costa Rica. From spacious, well-designed layouts to the most exclusive amenities anywhere, you can taste the best of what the country has to offer, just steps away from your own front door. With a prime location like this, you are sure to want to make Costa Rica your home away from home.
Government Of Costa Rica
Most people who take up residency, do business or even visit frequently are surprised to learn that the tax system in Costa Rica is much less complicated than many European or North American countries. It is much different than that of United States, mainly because anyone relocating to the country can quickly understand the system.
Overall, the basic principle for paying taxes in Costa Rica is based upon level of earnings. If you earn over a certain amount of income, you are liable to pay income tax to the government. There are four main types of taxes that a foreigner moving to Costa Rica will have to pay ? income, government, property, and sales tax.
Income Tax
Everyone regardless of his or her citizenship pays income tax in Costa Rica. However, the only way in which you would not have to pay income tax coming from abroad, would be if your income was less than eight hundred dollars a month. Any earned income below this amount will not levied income tax. Above this salary however, the income tax you are required to pay will range from 10 to 15 percent, dependant on the amount you earn. In Costa Rica, the tax year ends in September.
Government Tax
Each area of Costa Rica land is divided into branches of local governments (or municipalities) who oversee the collection of government tax. Just as in the United States, this government tax is used to provide services to the residents such as electricity for streetlights, or garbage removal etc? Each area has its own government tax, at its own levels that to go towards the services that municipality provides. Depending on the price of your home, you will also be required to pay a government property tax.
Property Tax
The government of Costa Rica has established a Costa Rica property tax equivalent to 0.5 to1.5 percent of the purchase price of a home in Costa Rica. If you are planning to purchase a home in Costa Rica, expect to pay property tax for Costa Rica real estate, at the price similar to that of many states within the United States. With one large exception,?The cost of the home will be considerably less!
Sales Tax
If you are relocating from the United States, then paying a tax on items purchased will not be a new concept to you. Costa Rica has a sales tax of 13 percent above the cost of each item. However, unlike in the United States in which certain items are exempt from sales tax, Costa Ricans pay sales tax on all goods sold to them. This sales tax can also be levied against certain services in the country. Again, remember though the cost of most goods and all services are drastically lower than what you are used to.
When it come to taxes, everyone will have a different situation, and it is therefore important to consult your tax advisor when considering the tax implications in any relocation or that of any foreign country. One thing the Costa Rica government does well is that it goes easy on its own citizens, and relocating residents when it involves prying the tax dollars from them.
Both Cerro Fresco & David Lovendahl are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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