Sunday 2 October 2022

Electric Cars A Reality In Costa Rica As Tax Exemption Ready To Be Applied

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01 October 2022 - At The Banks - BCCR

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At least four new car dealers are ready to bring more electric cars to the country, taking advantage of the tax exemption, as soon as the law Ley de Incentivos y Promoción para el Transporte Eléctrico (Law of Incentives and Promotion for Electric Transportation) goes into effect.

The Hyundai Ioniq is already in Costa Rica, still being tested; meanwhile, 45 BMW i3’s are already on the roads since 2016

This morning, Thursday, President Luis Guillermo Solis signed the legislation giving tax benefits on “clean vehicles”. For the law to go into effect, it needs to be published in the official government newsletter, La Gaceta, (typically within five business days), at which time the Ministerio de Hacienda (Treasury) can apply the tax exoneration.

Group Q, the exclusive dealer in Costa Rica for Huyndai and Cheverolet, already has the Hyundai Ioniq under test in Costa Rica and will bring in the Chevy Bolt is ready to bring in the Ioniq (which is already being tested in Costa Rica) and Chevy Bolt; the Agencia Datsun, exclusive dealer of Nissan vehicles is currenlty testing the Leaf; Bavarian Motors, exclusive dealer for BMW, already ahs the I3 in circulation in the country); and Grupo Automotriz, the exclusive dealer for Ford and Volkswagen, will be receiving the first two Ford Focus this week, no decision yet on the VW e-Golf.

The Leaf and Ioniq are ready to hit the roads of Costa Rica; the Focus is expected to arrive this week; while some 45 BMW i3 ‘s have been circulating since 2016.  Infograph from La Nacion
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According to Priscilla Piedra, general director of Hacienda, the exoneration is ready to be applied to vehicles, required yet is the regulations on spare parts, vehicle property tax and blue parking lots.

The law also authorizes public institutions and municipalities to promote the purchase and use of electric vehicles. The Instituto Costarricense de Electricidad (ICE) has already taken the first step and published on November last, the public tender for the purchase of 100 electric vehicles, which will replace units with conventional engines.

Financial institutions, under the new law, will also be able to offer special financing for electric vehicles.

Source: La Nacion

 

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