Costa Rica

Taxes
The corporate income tax rate is 30% in 2004 a drop from 36% in 2003. Reduced rates are available for smaller companies. Corporate entities with gross income under C21,468,000 (Costa Rican colons) are subject to a 10% corporate income tax rate. Those with gross income over the amount but under C43,183,000 are subject to a 20% rate. Corporate entities with gross income over C43,183,000 are subject to the full 30% rate. Dividend payments are subject to a 15% withholding tax.

Business information
CINDE, Costa Rica Investment Director
Tel: (506) 299-28-23
Fax: (506) 220-47-52

CINDE, New York
Executive Director
Tel.(212) 964-1867

Latest available figures

Country
Republic of Costa Rica. Independence from Spain on 15 September 1821.

Population
3,773,057 (July 2001 est.). Growth rate 1.65%. White (including mestizo) 94%, black 3%, Amerindian 1%, Chinese 1%, other 1%.

Capital
San José

Language
Spanish (official).

Currency
Costa Rican colon. US$1 = C417.54 Costa Rican colon (March 2004).

Legal system
Judicial branch: Supreme Court or Corte Suprema (22 justices are elected for eight-year terms by the Legislative Assembly). Legislation is based on the Spanish civil law system. There is judicial review of legislative acts in the Supreme Court.

Government
Branches: Executive--president (head of government and chief of state) and two vice presidents. The president and vice presidents are elected on the same ticket by popular vote for four-year terms. The cabinet is made up of up to 15 ministers, one of whom also is vice president. Legislative: 57-deputy unicameral Legislative Assembly elected at 4-year intervals by proportional representation in each of the seven provinces (Alajuela, Cartago, Guanacaste, Heredia, Limon, Puntarenas, and San José). The current government is formed by the PUSC.

President: Abel Pacheco de la Espriella (PUSC)
First vice president: Lineth Saborio
Second vice president: Luis Fishman

Cabinet
Agriculture and livestock: Rodolfo Coto
Culture, youth, and sports: Guido Saenz Gonzalez
Economy and industry: Vilma Villalobos
Education: Manuel Bolanos
Environment and energy: Carlos Manuel Rodriguez
Finance: Alberto Dent
Foreign relations and religion: Roberto Tovar Faja
Foreign trade: Alberto Trejos
Health: Maria del Rocio Saenz
Housing: Helio Fallas Venegas
Justice: Jose Miguel Villalobos
Labour, social security: Ovidio Pacheco Salazar
Planning: Danilo Chaverri Soto
Ministry of the presidency: Rina Contreras Lopez
Public security, government, police: Rogelio Vicente Ramos Martinez
Public works, transportation: Javier Chaves Bolanos
Science, technology: Rogelio Pardo Evans
Tourism: Ruben Pacheco
Women's Affairs: Gloria Valerin R.
Minister without portfolio (National Council on Childhood): Rosalia Gil

Political parties
Political parties and leaders: Partido Liberación Nacional (leader Rolando Araya Monge); Partido de Unidad Socialcristiana (Abel Pacheco de la Espriella); Partido Acción Ciudadana (Ottón Solís Fallas); Movimiento Libertario (Otto Guevara Guth); Partido Renovación Costaricense (Justo Orozco Alvarez).

Elections
In elections held on 3 February 2002 the Partido de Unidad Socialcristiana (PUSC) won the majority of seats forming the government. In a run off for the presidency on 7 April Abel Pacheco of PUSC won with 58% of the vote compared to 42% for Rolando Araya Monge of the Partido Liberación Nacional.

Economy
GDP - composition by sector: agriculture: 9.4%, industry: 31.2%, services: 59.4% (2000). Costa Rica's economy depends on tourism, agriculture, and electronics exports. Most industrial exports come from the electronics, textile and drugs industries. Bananas and coffee are the main crops.

Gross domestic product
US$15.9 billion; real growth rate 1.7% (2000).

Balance of payments
Exports of goods and services US$7,700 million. Imports of goods and services US$7,327 million. Current account balance had a deficit US$758 million. Reserves US1,090 million. (2000)

Inflation rate (CPI)
10% (2000 est.)

Labour force
Labour force: 1.9 million (1999). Labor force - by occupation: agriculture 20%, industry 22%, services 58% (1999 est.). Unemployment rate: 5.2% (2000 est.)

Government accounts
Budget: revenues: US$1.95 billion. Expenditures: US$2.4 billion. Total debt outstanding US$4,467 million. (2000 est.)

Public holidays (2004)
1 January (New Year’s Day); 19 March (St. Joseph’s Day); 11 April (Anniversary of the Battle of Rivas); 8-12 April (Holy Thursday - Easter Sunday); 1 May (Labour Day); 10 June (Corpus Christi); 29 June (St. Peter and St. Paul’s Day); 25 July (Guanacaste Day); 2 August (Virgin de los Angeles Day); 15 August (Mother’s Day and Assumption Day); 15 September (Independence Day); 12 October (Dia de la Raza or Columbus Day); 8 December (Immaculate Conception of the Virgin Mary); 24 December (Christmas eve); 25 December (Christmas day); 28-31 December (Christmas holiday).

Time zone
Standard Time: GMT minus 6 hours.

Sources
World Bank
CIA Fact Book
World Trade Organization
Elections Around the World