The following Frequently Asked Questions (FAQs) are designed to address some of the more common questions that employers with operations in Costa Rica currently face.
As of March 11, 2020, at least 10 countries in Latin America have confirmed cases of the novel coronavirus (COVID-19), with Mexico reporting at least seven patients.
On March 11, 2020, Colombia’s Health Ministry declared that every person arriving from China, Spain, Italy and France must self-isolate for 14 days from the date of their arrival in Colombia.
Even though the coronavirus (COVID-19) has not yet had as much of an impact in Brazil as it has in other countries, large multinational companies with subsidiaries in Brazil have been taking some proactive measures.
On February 20, 2020, the PR Treasury issued Internal Revenue Circular Letter No. 20-08 granting employers temporary income tax exemptions over payments and certain benefits made to employees and contractors related to the recent earthquakes.
The Puerto Rico Treasury Department has issued guidance providing special rules and procedures applicable to distributions from qualified retirement plans and individual retirement accounts following the recent earthquakes.
On January 14, 2020, the Brazilian Ministry of Economy issued an ordinance fixing the 2020 maximum payout amount of social security retirement benefits at R$6,101.06, representing a 4.48% increase to the maximum payout rate for 2019.
