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Costa Rica Consulting on New Decree on Basic Goods Subject to 1% Reduced VAT Rate

30 October 2020

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Proposed Changes

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Costa Rica

Costa Rica's Ministry of Finance has published a draft decree for consultation that provides a new list of basic goods subject to the 1% reduced VAT rate under Costa Rica's VAT system. The basic goods listed include: Various breads and tortillas; Various rice, cereals, flours, and pasta; Cow's milk, cheeses, and derivatives; Various fresh or frozen meats, including beef, pork, chicken (including eggs), sausages, and fish; Cooking oils, margarine, and other fats; Various fresh, chilled, or frozen fruits; Various fresh, chilled, or frozen vegetables, legumes, and tubers; Various other food products, including sugar, honey, yeast, baking powder, salt, etc.; Products...