Wednesday 5 October 2022

Legislators to begin discussion on reducing the 2022 Marchamo this Monday

The current version of the initiative proposes a cut of up to 50% of the property tax included in the Marchamo, based on the fiscal or tax value of the vehicle.

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QCOSTARICA – The political fractions, except that of the Partido Acción Ciudadana (PAC), agreed to begin this Monday, September 27, in the Legislative Assembly floor, the discussion on the bill to reduce the tax on vehicle ownership, to be charged in the 2022 Marchamo.

The plan is exempt from all procedures, so it will be discussed directly in the legislative plenary. The tax to be reduced constitutes around 63% of the total amount of the annula circulation permit that must be paid by all vehicle owners by December 31 of each year.

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The other parts of the Marchamo includes, for example, the Seguro Obligatorio de Vehículos (SOA) – Compulsory Vehicle Insurance.

The president of the Legislative Assembly, Silvia Hernández, explained that the agreement consists of beginning to know the motions that were presented to the initiative.

“Remember that the text is exempt from processing. Today, what is agreed is to set a date to know the different motions that have been presented. Subsequently, it will be sent for consultation,” explained the liberationist legislator about the agreement.

Read more: Half of tax collected in marchamos and fuels would not reach roads

If sent for consultation to the various institutions involved, the process would last a maximum of eight business days, explained the legislative president.

The current version of the initiative proposes a cut of up to 50% of the property tax included in the Marchamo, based on the fiscal or tax value of the vehicle.

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One of the reductions proposed is to halve the tax for vehicles with a fiscal value at less than ¢7 million; 25% for those ranging from ¢7 million to ¢10 million; and 15% for those between ¢10 million and ¢15 million. Vehicles with a fiscal value of more than ¢15 million would see no tax cut.

Read more: Natalia Díaz demands a 50% reduction in 2022 Marchamo

As for motorcycles valued at less than ¢1 million, they would be exempt from VAT on the Marchamo.

However, Jonathan Prendas, spokesman for the independent bloc Nueva República, explained that the factions are trying to reach a consensus on a substantive motion, of the 12 presented, to make modifications.

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Without going into details, Prendas explained in a general way that the replacement text would seek to reduce the tax between 10% and 50%, especially for owners of lower-value vehicles.

Read more: Franggi Nicolás: “Marchamo must be lowered and not finance corruption”

When the discussion was raised, the head of the Partido Liberación Nacional (PLN), María José Corrales, urged to move forward with the project.

“For Liberación Nacional it is of an emergency nature and it is necessary to be able to include it (on Monday’s agenda),” the legislator demanded.

In contrast, the head of the PAC faction, Laura Guido, reiterated her dissatisfaction with the progress of the project.

“We maintain deep concerns with the bill that seeks to reduce tax revenues that have been called relief to the payment of the Marchamo and, of course, we would not agree with the proposed route in this regard,” she said.

At this time last year, legislators also began the process and succeeded in approving a reduction in the tax portion of the 2021 Marchamo. The same is expected for this year.

Read more: President signs law to reduce the 2021 Marchamo

Among the arguments in favor of the tax reduction is the economic situation of the country, in particular, those with lower income and vehicle restrictions that limit circulation at least one day during the week, most weekends, and every night, currently from 9:00 pm to 5:00 am.

 

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