Dec 30, 2023 1 min read

Costa Rica new brackets of income tax effective from 1 January 2024

Changes in monthly income tax brackets

As of January 1st, 2024, new brackets of income tax will be applicable to salary, retirement payments and pensions. The updated brackets and rates were published in Executive Decree No. 44276-H, in the national newspaper La Gaceta on December 7th, 2023.

The monthly withholding tax rates and brackets that will apply as of January 1st, 2024, are the following:

Amount of incomeRate
Up to CRC929,0000%
More than CRC929,000 to CRC1,363,00010%
More than CRC1,363,000 to CRC2,392,00015%
More than CRC2,392,000 to CRC4,783,00020%
More than CRC4,783,00025%

Changes in tax credit amounts concerning family members

The same decree updates the amounts corresponding to the tax credits that individuals can apply to each child and their spouse.

Tax credit forMonthly amountAnnual amount

Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change

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Costa Rica's Tax Authority publishes income tax brackets for tax year 2024

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