Services

-Short Term Rentals.

Our area of expertise is managing short-term rentals, and we always strive to ensure that your taxes are paid effectively and in accordance with tax laws.

-Custody of Legal Books and Records.

We keep custody of records, and files securities and legal documents entrusted to us by our clients, as well as the official Legal Books and records of their businesses free of charge.

-Bank Updates and Financial Statements.

Banking institutions need their clients to update their data at least once every two years, and as part of this request, they also need financial statements, which is a service we also offer.

To record all of your financial activities, we'll develop and maintain a chart of accounts. We'll also produce federal, state, and local tax returns and give you the information you need to run your corporation.

-Shareholders Registry.

Every April, the Central Bank must receive the annual statement of the Register of Transparency and Final Shareholder Beneficiaries from all corporations with a legal address in Costa Rica (BCCR). We provide this service as well.

-Inactive Corporations.

In Costa Rica, corporations have historically been used to organize both corporate and family heritage. Such property-owning corporations did not engage in any lucrative businesses or file income tax returns prior to the Public Finances Strengthening Act. However, a change made by this Act, passed in December 2018 refers to these firms as dormant companies and qualifies them as contributors to this tax. Nevertheless, no tax-paying obligation other than complying with formal duties. We will make sure that your report is submitted accurate and timely.

-IRS Form 5471.

In recent years, the IRS has aggressively increased enforcement of offshore reporting and compliance, In addition, if a shareholder has offshore assets, accounts, investments or income, such as Subpart F income, CFC, or GILTI — then 5471 reporting becomes more complicated.

Who Must File form 5471?

U.S. shareholders, directors, and officers of a foreign corporation may have to file IRS form 5471.

When and Where To File?

IRS form 5471 is filed alongside your tax return. If you apply for an extension for your tax return, your form 5471 goes on extension as well.

Corporations Without Properties

These are services provided to a corporation that does not possess real estate in Costa Rica and is not registered with the Costa Rican Tax Agency.

Corporations With Properties

These are services for a corporation that does own real estate in Costa Rica and is not registered as a taxpayer with the Costa Rican Tax Agency.

Corporations With Economic Activity

These are services for the owners of a corporation that has rental property or properties and/or engages in any other business activities and is required to be registered as a taxpayer with the Costa Rican Tax Agency and maintain a formal accounting to file monthly VAT Tax Returns and yearly Income Tax Returns.

PHONE: + (506) 8955 - 3553

info@accountingcostarica.com

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