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Re:Costa Rica signs law to attract digital nomads by noodlesUK on Saturday August 14, 2021 @04:44AM (#28179129)
I’m surprised that this excludes digital nomads from local income taxes. You’d think tax revenue would be a big incentive for them to attract people, and most countries have anti double taxation laws.
Re:Costa Rica signs law to attract digital nomads by nikanj on Saturday August 14, 2021 @04:48AM (#28179150)
The people will still bring in plenty of money into the local economy
Re:Costa Rica signs law to attract digital nomads by drclau on Saturday August 14, 2021 @05:04AM (#28179222)
This ^^^. It’s essentially cash flow towards the country, part of which is spent locally. It’s pretty much tourism on steroids.

And, to make it work, they need to make it very attractive.

Re:Costa Rica signs law to attract digital nomads by silvestrov on Saturday August 14, 2021 @05:22AM (#28179306)
and it's tourism in the off-season.
Re:Costa Rica signs law to attract digital nomads by toastal on Saturday August 14, 2021 @07:30AM (#28179822)
I think it's more like a steady drip feed. I moved abroad, and I spend less than a tourist once I figured out how locals generally do it, but still considerably more than a local because I want to eat foods from other countries and get a nice coffee most days.
Re:Costa Rica signs law to attract digital nomads by read_if_gay_ on Saturday August 14, 2021 @04:51AM (#28179165)
And they can always tax again later.
Re:Costa Rica signs law to attract digital nomads by loceng on Saturday August 14, 2021 @04:57AM (#28179188)
And they have to compete with other countries.
Re:Costa Rica signs law to attract digital nomads by merrywhether on Saturday August 14, 2021 @04:52AM (#28179171)
It’s possible that this means no employer taxes either, which shields the employing company from having to set up a local tax entity, which is otherwise a huge barrier for US FAANG-type employees as I understand it. I know that I can’t work from any other countries currently, and I’m curious if these types of visas/arrangements would remove that barrier.
Re:Costa Rica signs law to attract digital nomads by tomatocracy on Saturday August 14, 2021 @05:08AM (#28179239)
The other two big barriers which can apply are company taxation (if I am a director/senior manager of a company is there a risk that the Company could become tax resident in Costa Rica?) and regulation (is there a risk that I am doing something illegal in Costa Rica because either I or the Company don't have any local regulatory permission?).

(There is also a company tax issue which I don't think this type of thing can solve, which is the risk of the tax residency or tax status of the Company in its home jursidiction or third countries relying on directors/senior managers physically being located in the home jurisdiction).

Re:Costa Rica signs law to attract digital nomads by oflanac52 on Saturday August 14, 2021 @05:21AM (#28179301)
a new startup called "Remote", reached unicorn status, is solving this issue by having all these entities set up on behalf of their clients.

If countries do stuff like this tho, it would actually undermine.

really hope to see other countires follow suit.

Re:Costa Rica signs law to attract digital nomads by tomduncalf on Saturday August 14, 2021 @04:59AM (#28179198)
This would be interesting if it is the case - you remain a tax resident in and employed by a company in your home country, but you live elsewhere. No idea if such a thing is possible. International tax laws are beyond me!
Re:Costa Rica signs law to attract digital nomads by smallerfish on Saturday August 14, 2021 @06:43AM (#28179645)
It's all about local jobs. The official unemployment rate is 20%, reality is likely significantly higher.