Friday 9 December 2022

Have you paid yours yet? 2.4% of vehicle owners have already paid their Marchamo

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9 December 2022 - At The Banks - BCCR

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QCOSTARICA – According to the Instituto Nacional de Seguros (INS), in charge of collecing the annual circular permit, the Marchamo, only 2.4% of the owners of vehicles paid theirs during the first week of collection.

The INS press office said that up to Monday, October 9, at 10:30 am, a total 36,937 payments, for a total amount of ¢5.3 billion colones, were registered.

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The numbers remain at similar figures to those of last year, when about 30,000 payments were also made in the first seven days of collection.

This year, for the 2021 Marchamo, there are 1,568,375 registered vehicles. The amount to pbe paid includes the vehicular property tax, the mandatory automobile insurance and other items minor, including traffic fines.

For the 2021 period, significant reductions are applied to property tax; a reduction of 50% on vehicles with a fiscaf or tax value of ¢7 million or less, 25% for vehicles with a fiscal value between ¢7million and ¢10 million, and 15% on vehicles with a fiscal value of between ¢10 million and ¢15 million. No reductions is applied to vehicles over the ¢15 million.

A smaller reduction, an average of 6%, is on the cost of the mandatory insurance.

The 2021 Marchamo is payable up to December 31, 2020, after which tacked on are late payment charges and interest. Also, not having the 2021 Marchamo paid, starting January 1, drivers are subject to sanctions that included a fine and/or have their license plates seized.

You can check online the amount to pay for your vehicle here.

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