IRS Analyzes the New Taxes Compensation

The Tax Payment Currency output (ISD by its Spanish acronym) generated by the importance of imported goods could be compensated with the Income Tax. The announcement was made by the Internal Revenue Service (SRI by its Spanish acronym) director, Carlos Marx Carrasco.

Before the ISD reform the tax was of 2%, but after the past November 24, 2011; the new tax would be of 5% according to the new reform. Carrasco has yet to identify the products that will be taken into account for the compensation. Although it is expected that an importer of cell phones, radios, refrigerators, shirts and shoes will pay three extra points by the ISD.

Despite that the tributary bill has been approved, several assemblymen have exposed claims of unconstitutionality. The assemblymen rejected the bill because it means an increase in prices. However the bill was already published in the official record. (AV)