Friday, 27 November 2020

Hacienda and INS run to apply reduction in 2021 Marchamo

Most likely the payment of the 2021 Marchamo will start on Monday, Novemeber 2, as institutions work to update their systems to reflect the change approved by Congress

QCOSTARICA – The Ministerio de Hacienda (Treasury) is in the process of updating the information that allows the reduction in the payment of the 2021 Marchamo, for those vehicles that do not exceed the value of ¢15 million colones, and that the INS can start the collection starting Monday, November 2.

Illustrative photo applying the Marchamo sticker to the windshield. Each year the sticker border it is a differect color

The change applies a 50% reduction in the property tax of vehicles up to ¢7 million, 25% for values between ¢7 and ¢10 million, and 15% from ¢10 to ¢15 million, as established in the law approved on Thursday.

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Added to the above is an across the board 50% reduction to light and heavy duty vehicles (plates CL and C respectively), buses, tourism, agricultural machinery, rental cars and public service vehicles.

The INS reported that it is preparing to start the collection of the right of circulation, however, it cannot until the Treasury systems guarantee the application of the deductions.

“We have been working in a coordinated manner to enable the payment of the Marchamo within the established deadlines. From the Treasury we work so that the benefit of the reduction of the property tax is reflected,” assured Alejandra Hernández, Vice Minister of Income.

The official explained that the tax values for each vehicle that is the basis to the vehicle property tax that represents some 65% of the Marchamo, was ready early this month, but now requires a modification to the databse.

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“The approval of a new law requires the modification of our entire database, work that we hope to finish this weekend, so that the INS can upload it to its records,” Hernández explained.

The other major portion of the Marchamo, about 23%, is the Seguro Obligatorio de Automóviles (SOA) – Mandatory Automobile Insurance. The remaining is distributed between other collections for the Cosevi, Aresep, parking meters and others.

Luis Fernando Campos, manager of the INS, reported that the priority of the insurer will be to incorporate the guaranteed deductions and the payment of incorrect amounts.

“The purpose of the law is for people affected by the pandemic to pay the established amounts and we will do what is necessary to guarantee it,” Campos highlighted, explaining befor that can happen, it is required that all institutions send the corresponding data.

Additionally, in the collection of the Marchamo is exemption of the Value Added Tax (VAT) for motorcycles with values ¢1 million.

Sidney Viales, head of Mandatory Insurance and Health of the INS, saidL “This issue (2021) requires an adjustment in a parameter that takes into consideration the tax value that we currently do not have, it also implies a modification in electronic invoicing, a requirement that we must meet by law for the collection of insurance.”

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The official highlighted that the exoneration, approved in the bill, generates a conflict in the Institution’s system and they are in the process of resolving it.

The INS and the Treasury reported that, during this weekend, they will continue working with the purpose of completing the necessary data and going out to collect once the adjusted information is available.

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Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

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