With the purpose of informing you of the main changes that will occur on insurance policies with the entry into force of Law No. 9635, Law for the Strengthening of Public Finances, this communication is issued:
As of July 1, 2019, personal insurance premiums will be taxed with a 2% of Value Added Tax (VAT). Personal insurance includes individual and group Health (medical expenses) and individual and group Life policies.
According to the above, the premiums will include the amount corresponding to VAT as of Monday, July 1, 2019. In the invoice you will be able to see the detail of the premium and the VAT paid.
The Law establishes a series of exceptions, therefore, if you are exonerated or exempt from the payment of said tax, it is necessary that you inform us and send us the supporting documentation, this in order to apply the corresponding tax treatment .
To resolve any query or concern on this matter, you can contact our Finance Department at 2228-6069
Ricardo Loew Sandoval
Best Meridian Insurance Company
Branch Costa Rica