Costa Rica accounting services
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Costa Rica is an excellent place to register a gambling company due to its favorable business climate and favorable tax conditions. The country does not have specific legislation prohibiting online gambling, which allows internationally licensed operators to run their business legally and with minimal regulatory friction. Additionally, Costa Rica offers a straightforward company registration process, low operational costs, and a well-established infrastructure that has made it a preferred hub for iGaming and online betting companies for decades.
What do Costa Rica accounting services provide?
Accounting Requirements for Companies in Costa Rica
Regulatory compliance
Accounting in Costa Rica is overseen by the Colegio de Contadores Públicos de Costa Rica. All companies are required to maintain financial records in accordance with International Financial Reporting Standards (IFRS). Small and medium-sized enterprises may apply the simplified IFRS for SMEs framework. As of 2026, the Ministerio de Hacienda continues to strengthen digital reporting obligations, making professional accounting support essential for foreign-owned companies.
Taxpayer status
All companies operating in Costa Rica must register with the Ministerio de Hacienda as active taxpayers and obtain a tax identification number (NIT). Companies are required to file a VAT return monthly (13% standard rate) and an annual corporate income tax return. Failure to maintain active taxpayer status can result in penalties, account freezes, and restrictions on business operations.
Financial reporting and compliance
Companies must prepare and retain annual financial statements including a balance sheet, income statement, and cash flow report. These documents must be available for inspection by tax authorities upon request. Companies operating within Free Trade Zones or holding special tax status are subject to additional reporting requirements to maintain their exemptions and incentives.
5 Steps to Start Accounting Support
Frequently Asked Questions
Still have questions?
Do companies in Costa Rica need to keep accounting records?
Yes. All companies registered in Costa Rica are legally required to maintain accounting records in accordance with IFRS standards, regardless of whether they generate income locally or exclusively outside the country. Failure to maintain proper records can result in penalties from the Ministerio de Hacienda.
What are the deadlines for submitting tax reports in Costa Rica?
VAT declarations must be filed monthly by the 15th of the following month. The annual corporate income tax return (Impuesto sobre la Renta) must be submitted by March 15 of the year following the reporting period. Missing deadlines results in automatic fines and interest charges.
Is it possible to optimize taxes in Costa Rica?
Yes. Costa Rica operates on a territorial tax system, meaning income generated outside the country is generally not subject to local income tax. Additional optimization opportunities are available through Free Trade Zone registration, which offers income tax exemptions and reduced import duties for qualifying companies.
Is an audit required for companies in Costa Rica?
Yes, an audit is required if the company – has an annual turnover of more than ₡500 million (~930,000 USD); – has assets of more than ₡200 million (~370,000 USD); – employs 50 or more people.
Can a company be exempt from taxes in Costa Rica?
Yes, under certain conditions. Companies operating within Free Trade Zones (Zonas Francas) may qualify for full or partial exemption from income tax, import duties, and other local taxes for an initial period of up to 12 years, with possible extensions. Eligibility depends on the sector, investment volume, and employment generation.
Do I need a professional accountant for a small business in Costa Rica?
Yes. Even small businesses are required to comply with electronic invoicing (factura electrónica), monthly VAT filings, and annual income tax reporting. A professional accountant ensures your company meets all regulatory obligations on time, avoids penalties, and takes full advantage of available tax incentives.
Our Service Include
Preparation and submission of documents
We assist in the preparation and filing of financial and tax reports, preparation of business plans, tax returns, and registration of companies in the relevant state registries. We also provide support in the process of complying with local regulatory requirements.
Advice on choosing a tax regime
This system is suitable for companies operating in Costa Rica and provides for the payment of corporate tax in accordance with the company’s income. It is also possible to use tax incentives in special economic zones.
This regime is suitable for small businesses and companies with minimal liabilities, allowing for simplified accounting and reporting.
Accounting support
We offer accounting services, including financial reporting, preparation of balance sheets, control of expenses and income, as well as support in case of tax audits.
Audit services
We provide an independent audit of financial statements in accordance with international standards (IFRS). We provide services for analyzing the company’s financial condition, risk assessment and preparation for regulatory inspections.
We Are Always Available
Our team ensures your business setup is smooth, efficient, and compliant with local laws. Contact us today to discuss your project.
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