Today is corporate and individual income tax deadline day

Today is income tax deadline day in Costa Rica. Unless a corporation or individual has a special exception, the tax filing due today is for the 2010-2011 fiscal year that ran from Oct. 1, 2010, to last Sept. 30.

There are some new wrinkles this year. Instead of filling out a multipart form and presenting it to one of the state banks, the tax filer must run the document through theEDDI-7 system of Tributación, the tax collecting agency.

Although electronic filing is possible directly to the tax agency, some veteran tax preparers warn against it.

Instead they suggest that the completed form be taken to one of the banks. The bank clerk keeps two copies and the filer gets one, so the form has to be produced in triplicate.

Those taxpayers who find themselves in a bind can file a form reporting zero income and then file an adjusted form when all the data have been processed. Failing to file at all draws a penalty of more than 30,000 colons or about $60. In any event, there would be interest on any taxes owed.

Tributación officials said that any taxpayer who cannot handle the free special software can visit a local tax agency office for help and the use of a computer. This is the same system for filing the monthly sales tax rpeort.

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