Thursday 17 June 2021

President signs law to reduce the 2021 Marchamo

Vehicle property tax will be reduced between 15% and 50% depending on the tax value of the car, as long as it does not exceed ¢15 million

QCOSTARICA – President Carlos Alvarado, signed on Friday the law reducing the vehicle property tax on the 2021 Marchamo, awith which he authorizes a reduction in the rate of the vehicle property tax.

President Alvarado, in his office, signing the law to reduce the 2021 Marchamo. Photo courtesy of Casa Presidencial

The signing took place at Casa Presidencial in the morning, log with the Ministers of Finance Elian Villegas and Minister of Transport Rodolfo Méndez Mata.

- Advertisement -

By 6:00 pm, the law was officially published in La Gaceta, giving the law effect for the November 1 deadline to be applied to the collection of the annual circulation permit starting on Monday.

“This law arrived yesterday (Thursday) afternoon and I have signed it immediately to allow time for it to take effect before the collection of the 2021 Machao begins and thus be able to give effective relief to the pockets of hundreds of thousands of people,” Alvarado said.

This Thursday, the Legislative Assembly approved in a second and final debate the reduction which will apply to vehicles that have a tax value less than ¢15 million.

For vehicles valued at less that ¢7 million colones, the reduction is 50%. Vehicles with a tax value between ¢7 million and ¢10 million will have a 25% reduction on that tax, while vehicles valued between ¢10 million to ¢15 million, the reduction is15%.

- Advertisement -

Likewise, the 50% reduction will apply to all light and and heavy-duty vehicles (plate CL and C respectively), buses, tourism, agricultural machinery, rental cars and public service.

As for motorcycle owners, those with a value of less than ¢1 million will be exempt from Value Added Tax (VAT).

Ships, boats and aircraft must pay 100% of the Marchamo

The property tax on vehicles constitutes about 63% of the total payment each year.

This tax reductionwill open a gap of at least ¢50 billion colones in revenue of the Government expects to cover its end-of-year expenses, such as the Aguinaldo (Christmas Bonus) for civil servants.

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

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.

Related Articles

Nicaragua’s Foreign Minister absent from the summit of Central American presidents

QCOSTARICA - The Daniel Ortega government sent its ambassador to Costa...

Carlos Alvarado describes calls reprehensible the persecution of Ortega against opponents in Nicaragua

QCOSTARICA - The President of Costa Rica, Carlos Alvarado, described the...

MOST READ

Diseases, weather and low prices hit the orange sector in Costa Rica

HQ - The appearance of pests and diseases, in particular the 'dragón amarillo' (yellow dragon), the impact of the weather and a sharp drop...

Fifth tropical wave precipitation will be heavier in the north of the country

QCOSTARICA - For this Wednesday, the arrival of the fifth tropical wave of the season is expected, thus reinforcing the rainy activity mainly to...

Lack of space on Racsa’s hard drive paralyzed immigration consultation at the airport this Monday

RICO's DIGEST - We've all had this happen, your computer's hard drive is full and your computer crashes. But we are not the Radiográfica...

COVID vaccines in the workplace: Can I ask who got their shots?

(DW) Jon works for the local government in the US state of Virginia. The 40-year-old received both his COVID shots in April. Most of...

Today’s Vehicle Restriction June 14: 1 & 2 CANNOT circulate

Today, Monday, June 14, vehicles with plates ending 1 & 2 CANNOT circulate The measure is countrywide and applied between 5:00 am and 9:00 pm,...

Today’s Vehicle Restriction: June 13, “EVENS”

Today, Sunday, June 13, only EVENS can circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save for those under the...

Today’s Vehicle Restriction June 15: 3 & 4 CANNOT circulate

Today, Tuesday, June 15, vehicles with plates ending 3 & 4 CANNOT circulate The measure is countrywide and applied between 5:00 am and 9:00 pm,...

On Monday the vehicle restriction will change, again

QCOSTARICA - In times of pandemic, things change constantly, especially when it is necessary to tighten the belt to reduce the contagion of covid-19. The...

The “rebound” effect boosted growth in Costa Rica’s economic activity

QCOSTARICA - Costa Rica's economic activity registered in April 2021 a year-on-year growth of 8.8%, a figure affected by a “base” or “rebound” effect,...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.