Tired of paying taxes? Confused with changing regulations? Or don’t know how or where? Don’t worry! Our accounting department is continuously trained to stay up to date with new or updated tax regulations that might affect you or your property. We would be happy to set you up properly at the appropriate institutions so that you don’t get any unwelcome surprises in the future. Some taxes that might affect you include:
- Local Municipal Property Tax
- Local Business License (patente) Tax
- Annual Corporate Tax
- Monthly Sales Tax
- Income Tax
- Luxury Tax
Municipal Taxes may be paid quarterly of annually. They are typically due the 1st month of the new year. The tax is based on 0.25% of the declared value of your property. A garbage fee may be added to this tax
Local Business (Patente) Tax. If you run a business or vacation rental, you may need to register and pay an annual Patente Tax at the local municipality.
Annual Corporate Tax. If you own a corporation, there is an annual corporate tax due at the beginning of each calendar year. If this tax is not paid, then you will not be able to operate your corporation when conducting bureaucratic tasks. Depending on if your corporation is active or inactive, and the size and income, different rates apply. Not paying the tax 3 years in a row may result in automatic dissolution of your corporation and assets!
Sales Tax. If you operate a business or vacation rental, you are required to file monthly and pay the taxes (Impuesto de Valor Agregado, IVA) you have collected. More information here.
Income Tax. Just like above, you will be required to file and pay income taxes (Impuesto de Renta) either monthly or annually. More information here.
Luxury Tax. If your property is valued over $200,000, you may need to pay an annual luxury property tax. If you have any doubts about