American Expatriate Costa Rica

Increase in IVM quota will not go into effect on June 1st

The 1% increase in the contribution of workers to the Invalidity, Old Age and Death (IVM) regime will not take effect next Thursday June 1st, as it is not yet signed and there are divided opinions, according to Mario Devandas, a member of the Board of Directors that represents the workers.

It will not come into effect because it has not been approved. And if it was approved next Thursday, it would be difficult for it to take effect on July 1st, because then they have to do a series of administrative procedures and publish it in La Gaceta,”

said Devandas.

This Thursday they had to postpone the discussion for the next weeks because there are differences among the members on the measures that could be adopted.

crhoy.com