NIIF for PyMEs: An Opportunity to Organize Your Accounting Starting in January 2027
By IFT Consultores
Information as of October 20, 2026
With Resolution MH-DGT-RES-0015-2026 from Costa Rica’s Directorate General of Taxation taking effect, 2027 brings a clearer framework for how accounting standards relate to tax rules. For taxpayers in the general regime, Hacienda establishes that they may choose between NIFF for PyMEs and full NIIF, based on their information needs.
At IFT Consultores, we see this as an excellent opportunity to take a step forward.
Why consider NIIF for PyMEs?
- It is a recognized standard in Costa Rica. The Costa Rican Association of Public Accountants ratified its adoption in 2018 through Circular 21-2018.
- It is a simplified framework. It was designed for entities without public accountability, with fewer disclosures and more agile processes than full NIIF.
- It brings order to your information. Clear financial statements support better decisions and make it easier to reconcile accounting records with the tax base.
- It builds trust. Banks, partners, and investors can read and compare financial statements prepared under an international standard.
- It does not depend on your commercial classification. The term “NIIF” in international standards is not related to the concept used by Costa Rica’s Ministry of Economy, Industry and Commerce (MEIC). What matters is whether the taxpayer meets the criteria of the accounting standard itself.
How to start the year right
- Review with your certified public accountant which framework best fits your activity.
- Plan the transition ahead of time, following the standard guidelines for first-time adoption.
- Prepare your tax reconciliation so your accounting information and tax filings are consistent.
A supported transition helps reduce rework and preserves the historical comparability of your financial statements.
IFT Consultores is with you at every stage of the transition. Contact us and let’s talk about the best path for your situation