Sunday 24 September 2023

Reduction in Marchamo has green light

Paying the bills

Latest

Fatphobia in Costa Rica out of control

QCOSTARICA -- In the era of social media, where...

Is Costa Rica’s ‘Blue Zone’ vanishing?

QCOSTARICA -- The shrinking of Costa Rica’s Blue Zone...

Costa Rica clarifies tax treatment of crypto-assets

QCOSTARICA - Costa Rica's tax authority - issued a...

U.S. Returns Historical Indigenous Artifacts to Costa Rica

QCOSTARICA -- NBC6 Miami reports that several pre-Columbian artifacts...

UN Declares U.S. Southwest Border ‘World’s Deadliest Migration Land Route

Q24N (CIS.org) On September 12, the International Organization for...

BIG HIT! Increase of up to ¢71 in gasoline for October proposed

On the heels of a big increase in fuel...

Costa Rica’s “Pura Vida” reputation tarnished by violence and homicides from drug trafficking

QCOSTARICA -- Drug trafficking-related violence and homicides pose a...

Dollar Exchange

¢538.05 BUY

¢543.60 SELL

23 September 2023 - At The Banks - Source: BCCR

Paying the bills

Share

QCOSTARICA — The government of Rodrigo Chaves finally gave in with respect to the reduction of the 2024 Marchamo, ruling out stopping the initiative or a veto by the president, indicated Elli Feinzaig, of the Partido Liberal Progresista (PLP).

On Wednesday, the Ministry of Finance only introduced formal motions and did not request changes in the reduction sections of the vehicle property tax portion of the Marchamo.

“Specifically, the Ministry of Finance asked us to introduce some rules that will facilitate the implementation of the calculation methodology that will allow immediate reductions for this year of up to 50% in the Marchamo and, from there, the progressive scale,” pointed out the head of that PLP legislative faction, a group of 6 of the 57 legislators.

- Advertisement -

For Feinzaig, it has become clear that the majorities prevail and have accepted that the definitive destiny of the Marchamo was its substantial decline.

“This initiative will be a reality. Now it is just a matter of waiting for the votes in the first and second debate, which we hope to have in no more than 15 days,” said Feinzaig. After that, the approved bill heads for Casa Presidencial for the President’s signature and to the national printer, for publication in La Gaceta, for the reduction to take effect on November 1 when the Marchamo collection begins.

The contemplates a reduction of 50% of the property tax portion of the Marchamo for lower value vehicles, 20% to 40%  for mid-range vehicles, and between 5% and 6% for high-end vehicles. The original text had discounts between 20% and 66%.

Reductions do not apply to legislators, president, vice presidents and ministers, as well as their spouses.

Five opposition parties, the PLP, Partido Liberacion Nacional (PLN), Partido Unidad Social Cristiana (PUSC), the Nueva Republica and the Frente Amplio.

The idea is that the cheaper the car, the lower the percentage of the yearly property tax to be paid.

- Advertisement -
Paying the bills
Avatar photo
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

Goverment’s proposed reduction of Marchamo differs significantly from the stance of the opposition

QCOSTAIRCA -- The discussion concerning the decrease of the 2024 Marchamo...

Cars valued at less than ¢22 million would pay up to 57% less in Marchamo

QCOSTARICA -- The government presented a counterproposal to legislators, a reduction...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

%d bloggers like this: