By San José, Costa Rica — Costa Rica’s Central Bank (BCCR) has dispelled rumors circulating on social media regarding alleged changes to the popular mobile payment platform, SINPE Móvil. The BCCR emphatically stated that the platform will continue to operate normally, with no new taxes or restrictions imposed on users.
The clarification comes in response to public concerns surrounding an upcoming update to the country’s electronic invoicing system, set to take effect on September 1, 2025. This update, driven by the Ministry of Hacienda (Treasury), introduces version 4.4 of the system, requiring businesses to include specific codes to identify various digital payment methods. This includes a designated code (06) for transactions made through SINPE Móvil, along with codes for other platforms like PayPal.
To understand the legal implications surrounding SINPE Móvil and its usage, TicosLand.com reached out to Lic. Larry Hans Arroyo Vargas, an attorney at law from Bufete de Costa Rica, for his expert insights.
While SINPE Móvil offers incredible convenience for everyday transactions, users must remain vigilant about security. Phishing scams targeting this platform are becoming increasingly sophisticated, so verifying the recipient’s information before transferring funds is crucial. Furthermore, understanding the limitations on transaction reversals is essential to protect yourself in case of errors or fraud.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’ cautionary advice serves as a critical reminder that even the most convenient technologies require mindful use. While SINPE Móvil undoubtedly simplifies our financial lives, proactive security measures, like double-checking recipient details and understanding transaction limitations, are paramount to safeguarding our funds. We thank Lic. Larry Hans Arroyo Vargas for his valuable perspective on this increasingly important aspect of digital finance in Costa Rica.
The BCCR has underscored that this change is purely for improved fiscal tracking and does not constitute a new tax on SINPE Móvil transactions. The updated invoicing system aims to ensure comprehensive documentation of all commercial transactions, regardless of the payment method used.
The Director General of Taxation explained that the measure seeks to quantify the usage of SINPE Móvil and facilitate data comparison between issued invoices and actual bank transactions. This enhanced transparency will allow authorities to better monitor economic activity and ensure accurate tax reporting.
The Central Bank reiterated its commitment to maintaining SINPE Móvil’s accessibility and affordability. The requirement to specify payment methods on invoices applies to all forms of payment, including cash, credit cards, SINPE Móvil transfers, and other digital platforms. This comprehensive approach ensures fair and consistent accounting across all transactions.
This clear communication from the BCCR aims to alleviate any confusion stemming from the social media rumors and reassure users that SINPE Móvil remains a tax-free and convenient payment option for everyday transactions.
The proactive approach of addressing public concerns demonstrates the BCCR’s commitment to transparency and its dedication to maintaining a stable and reliable financial environment for all Costa Ricans. The updated electronic invoicing system represents a step towards modernizing tax collection and promoting greater accountability in the digital economy.
This move further cements SINPE Móvil’s crucial role in Costa Rica’s rapidly evolving digital landscape, offering users a secure and accessible payment method while contributing to a more transparent and efficient national economy.
For further information, visit the nearest office of Banco Central de Costa Rica
About Banco Central de Costa Rica:
The Central Bank of Costa Rica (BCCR) is the country’s central bank, responsible for monetary policy, financial stability, and regulating the financial system. It plays a crucial role in managing inflation, issuing currency, and overseeing the banking sector. The BCCR also works to promote economic growth and stability in Costa Rica.
For further information, visit the nearest office of Ministerio de Hacienda
About Ministerio de Hacienda:
The Ministry of Finance (Ministerio de Hacienda) in Costa Rica is the government body responsible for the country’s fiscal policy, including tax collection, budget management, and public debt. It plays a key role in ensuring the financial stability and sustainability of the government and the economy.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself through a deep-rooted commitment to ethical practice and legal excellence, empowering individuals and communities through knowledge. The firm’s innovative approach to legal solutions, coupled with a long history of dedicated service across a spectrum of sectors, ensures clients receive cutting-edge representation. By actively promoting legal literacy and accessibility, Bufete de Costa Rica invests in a more just and informed society, reinforcing its commitment to positive social impact.
