Obligation to File Inactive Corporation Income Tax Form.
In Costa Rica, the society veil has been falling from a couple of years ago, since corporations are commercial persons (mostly), which have been distorted by people to shields of civil liabilities, to be owners of various assets, to the evasion of transfer taxes in the sale of goods that must be registered in the “Registro Mercantil” and others.
Since the companies are commercial persons and their intention is to carry out trade (industry and / or commercialization) of goods and / or services, with the purpose of bringing them together (shareholders) who want to work together for a commercial objective. Costa Rican legislation is gradually moving to lift the society veil (declaration of final beneficiaries), the imposition of taxes on inactive companies (exonerating those registered as SMEs), and now the prosecution of registrable assets owned by inactive corporation.
The income tax form filing of inactive corporation is intended to reveal firstly the assets registered in their name and secondly the origin of the resources used to acquire said assets.
It is the reasoning of the Tax Administration that; If it has assets, but not lucrative economic activities, it is because they did not declare the taxable income from economic activities at the time, or they are contributions from the shareholders, so they must demonstrate (if asked) that the resources used for the contribution to society come from taxed incomes.
On the other hand you must file the Historic Value reported of the asset, so automatic revalue or not, must not be filed at this tax form.