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TAXES

The Tax Department is headed by Gabriela Paez and is made up of two subdivisions: one focused on national corporate taxes and another dedicated to serving American expatriates residing in Costa Rica. Gabriela leads a team of four people, ensuring efficient and specialized management of all tax obligations. His leadership ensures that both local businesses and expatriates receive accurate tax advice and rigorous regulatory compliance.

Mission:

In our Accounting Service department, we are dedicated to providing comprehensive and accurate financial solutions to large taxpayer companies and SMEs, freeing them from the burden of taxes so they can focus on their business growth and success.

 

Vision:

We strive to be the partner of companies in the management of their financial statements, offering high quality and value-added services that contribute to the sustainable development of our clients. We specialize in providing comprehensive and personalized tax advice to individual clients and companies, ensuring regulatory compliance and tax optimization.

 

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Definition of Domestic Tax Services

We offer comprehensive corporate tax services including strategic tax planning, regulatory compliance, specialized advisory, and tax controversy management. Our goal is to optimize your company's tax burden, ensure compliance with applicable regulations, and provide efficient and personalized solutions for all your tax needs.

 

Components and Features of Corporate Tax Planning:

  • Tax Strategies Design: Creating tax strategies to optimize the company's tax burden. Advising on corporate structure and transaction planning to maximize tax benefits.

  • International Tax Structuring: Advising on tax planning for international operations. Assisting in the use of tax treaties to minimize double taxation.

  • Preparation and Filing of Tax Returns: Assisting in the preparation and filing of income tax returns, sales taxes (VAT), municipal taxes, and other local taxes. Ensuring compliance with all tax and regulatory obligations.

  • Advisory on Tax Compliance: Assessing and ensuring compliance with Costa Rican tax laws. Implementing internal policies and procedures to comply with tax regulations.

  • Transfer Pricing:

  • Transfer Pricing Documentation and Studies: Preparing transfer pricing studies to ensure that transactions between related parties are conducted at arm's length prices. Preparing the necessary documentation to comply with transfer pricing requirements set by tax authorities.

  • Transfer Pricing Strategy and Policies: Developing transfer pricing strategies and policies aligned with the company’s operations and business objectives. Analyzing and advising on the implementation of effective transfer pricing policies.

  • Mergers and Acquisitions (M&A) Advisory: Assessing the tax implications of mergers, acquisitions, and business restructurings. Assisting in tax due diligence and post-merger integration planning.

  • VAT and Other Indirect Taxes Consulting: Advising on the application of VAT and other indirect taxes. Assisting in the management and compliance of indirect tax obligations.

  • Labor Taxes and Social Security Advisory: Assisting in managing tax obligations related to payroll and social security. Advising on the planning and compliance of social security contributions and other labor taxes.

  • Support for Tax Audit Notifications and Abbreviated Verifications by the Tax Administration: Assisting in the preparation of accounting requirements demanded by the tax administration.

  • Preventive Tax Due Diligence: Conducting preventive tax due diligence processes to identify and mitigate tax risks. Reviewing internal tax policies and procedures to ensure adequacy and compliance.

  • Consulting on International Financial Reporting Standards (IFRS): Advising on the implementation of IFRS standards and their tax impact. Assisting in the transition to international accounting standards and tax reconciliation for corporate income tax filings.

 

Definition of U.S. Expatriate Tax Services

We offer comprehensive tax services for U.S. expatriates residing in Costa Rica, including preparation and filing of IRS tax returns, compliance with FATCA and FBAR, international tax planning, and ongoing advisory. Our goal is to ensure compliance with tax regulations of both countries, optimize the tax burden, and provide peace of mind and security in managing tax obligations.

 

Components and Features of Expatriate Tax Services:

  • Preparation and Filing of U.S. Tax Returns:

  • Federal Tax Return (Form 1040): Preparation and filing of the U.S. federal income tax return.

  • State Tax Returns: Preparation of state tax returns, if applicable. Additional Forms (Form 2555, Form 8938, FBAR): Preparation of additional required forms such as Foreign Earned Income Exclusion (Form 2555), Statement of Specified Foreign Financial Assets (Form 8938), and Report of Foreign Bank and Financial Accounts (FBAR).

  • International Tax Planning:

  • Tax Burden Optimization: Developing strategies to minimize global tax burden by leveraging available deductions and credits in both countries.

  • Tax Treaties: Advising on the application of tax treaties between the U.S. and Costa Rica to avoid double taxation.

  • Foreign Earned Income Exclusion: Evaluating and applying the Foreign Earned Income Exclusion and housing deductions.

  • Compliance and Representation:

  • FATCA and FBAR Compliance: Advising and managing compliance with the Foreign Account Tax Compliance Act (FATCA) and reporting of foreign bank accounts (FBAR).

  • Ongoing Consulting and Advisory:

  • Continuous Tax Advisory: Providing ongoing advice on changes in tax laws that may affect expatriates.

  • Analysis of Tax Implications: Evaluating the tax implications of financial and life decisions such as investments, property, and changes in residency.

 

Client Benefits:

  • Regulatory Compliance: Ensuring all tax obligations are met in both countries, avoiding penalties and fines.

  • Tax Optimization: Minimizing global tax burden through effective tax planning strategies.

  • Peace of Mind and Security: Reducing stress and uncertainty by handling all complexities of international tax obligations.

  • Expert Advice: Access to tax experts with specialized knowledge of U.S. and Costa Rican tax laws.

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