ArthroCare Receives
Extension of Costa Rica Tax Holiday
(BUSINESS WIRE) - ArthroCare Corp, a leader
in developing state-of-the-art, minimally
invasive surgical products, announced today
that the Costa Rican government has granted
an extension of the Company's current tax
holiday.
Under the holiday extension, the Company's
business profits will not be subject to
Costa Rican income tax until January 1,
2016, after which time such profits will be
subject to general corporate tax rules then
in effect.
There have been no other changes to the
Company's current tax holiday arrangement
with the Costa Rican government.
As a condition of the extension, the Company
is required to meet certain investment and
employment targets by December 2010. The
Company believes it will meet all of the
requirements in the normal course of its
existing business plans.
"We look forward to continuing to expand our
presence in Costa Rica. Our manufacturing
facility there has proven to be a
significant factor to the ongoing success of
the Company and its business operations,"
noted David Fitzgerald, President and Chief
Executive Officer of ArthroCare.
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