Arias & Muñoz reminds you that the wage report must include all remunerations paid under any denomination.

Dear Client,

Starting on October 2015, the minimum reference income or minimum contribution base for calculating health insurance (SEM, its acronym in Spanish) and pension (IVM, its acronym in Spanish) plan payments became 205,684CRC, up from the previous amount of 180,139 CRC.

The decision of implementing these periodic changes was made in a meeting of the Board of Directors of the Costa Rican Social Security Institute (CCSS) on November 28, 2013.

"Wage reporting should also be made based on the total compensation paid under any name (real wage earned)," explained Arias & Muñoz law firm partner Anna Karina Jiménez.