Cosat Rica now wants global taxation

[American]

There is a tax proposal that is expected to pass in the CR legislature that taxes all foreigners living in Costa Rica on their income earned "elsewhere in the world."

The government of Costa Rica is so far in debt that it has no choice but to rob all foreigners that live or invest there. The thievery of that little socialist government knows no bounds. Think twice and think again before investing one dollar in that little "paradise." They have larceny in their heart.

 

[wolfie_cr]

This news is at least 6 months old and its not just foreigners that would be subject to the global taxation scheme (gee I wonder where they got the idea of such "model") but residents/citizens as well

 

[American]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by wolfie_cr:
This news is at least 6 months old and its not just foreigners that would be subject to the global taxation scheme (gee I wonder where they got the idea of such "model") but residents/citizens as well<HR></BLOCKQUOTE>

That's right. They want to tax the Ticos smart enough to live in the U.S. on the money they are making there, too. This plain sucks, and I don't know how or why Costa Ricans put up with it.

Just think of all the money Pacheco and Johnny Araya could steal with these new taxes.

 

[wolfie_cr]

My point is that costa ricans living here and getting revenue from outside CR would be subject to tax too

Costa Ricans living in the US would not be taxed because they are not living here

you have to live in 'x' country if they are going to subject you to a tax except in the good ol' US of A where they tax you even if you live in Antartica, I don't know how Americans put up with that.... for example, so if you are American you will never escape the IRS because even if you give up your citizenship and the IRS thinks that you are doing so for avoiding taxes you might still have "liability"

 

[American]

You do get a break though. If you work in a foreign country and that is your primary residence, you are entilted to an $80,000 dollar tax exemption. For the first 80 dimes you make, you are not taxed. That was one of the NICE things about being in CR for so long, and I definately enjoyed that exemption.

Also, I went down to CR with a shitty credit rating. I didn't use credit for at least 10 years. When I got back to the states, I found out that all that negative information had timed out and dropped off my credit records (even a student loan default!). Now the banks line up to give me credit cards because I have such a clean, sterling record. LMAO...Anyways, I didn't make the rules.

 

[wolfie_cr]

Well there is a break in the US tax law however in the case of what's proposed in the CR tax code the break in such a case would be 100%, you don't live here you don't get taxed so under such view the CR tax code would lighter than what the IRS bills you, example, Costa Ricans living in the US can make 100k a year and they won't pay a dime in Costa Rica regarding that income

Last time I read about the tax code the proposal was to only tax foreign source income WHEN it was brought into CR so if you have 20 million dollars in Grand Cayman you would not pay taxes on that (but the law might have changed over time as it has gone through a whole bunch of modifications so that might no longer be true)