Costa Rica announces CIT brackets for 2024


On 7 December 2023, the Ministry of Finance of Costa Rica published Executive Decree No. 44276-H in the Official Gazette, outlining the corporate and individual income tax brackets and rates for 2024.

The updated corporate income tax is set at 30% for companies with gross income exceeding CRC 120,582,000.  For smaller companies with gross income not exceeding a certain amount, the progressive rates are as follows:

  • up to CRC 5,687,000 – 5%
  • over CRC 5,687,000 up to 8,532,000 – 10%
  • over CRC 8,532,000 up to 11,376,000 – 15%
  • over CRC 11,376,000 (up to 120,582,000) – 20%

The individual income tax (employment) brackets and rates per month are as follows:

  • up to CRC 929,000 – 0%
  • over CRC 929,000 up to 1,363,000 – 10%
  • over CRC 1,363,000 up to 2,392,000 – 15%
  • over CRC 2,392,000 up to 4,783,000 – 20%
  • over CRC 4,783,000 – 25%

The individual income tax (business) brackets and rates per month are as follows:

  • up to CRC 4,127,000 – 0%
  • over CRC 4,127,000 up to 6,164,000 – 10%
  • over CRC 6,164,000 up to 10,281,000 – 15%
  • over CRC 10,281,000 up to 20,605,000 – 20%
  • over CRC 20,605,000 – 25%

The Executive Decree No. 44276-H will go into effect from 1 January 2024.



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