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Published on Wednesday,
October 20, 2021
By the A.M. Costa Rica staff The deputies of Congress, with 35 votes in favor, advanced in the approval of bill No.22,519 entitled "Law for the relief in the payment of the Marchamo." The so-called Marchamo is a compound tax on the right to drive a specific vehicle. The payment of this tax corresponds to the year 2022 and must be paid in advance between December 1- 31, 2021. According to the latest agreements by deputies, the reduction to the tax will be applied in a staggered way, benefiting more people with vehicles of lower value. The pre-approved law could be applied as follows: * For vehicles valued at approximately $3,000 or less, the tax reduction will be 38%. * If the value is between $3,100 and $4,700, the tax reduction is 29%. * Between $4,800 and $7,900, the tax reduction will be 18%. * For vehicles between $7,800 and $9,500, the tax reduction will be 16%. * In the case of values between $9,600 and $12,700, the tax reduction will be 12%. * Vehicles valued between $12,800 and $15,900 the tax rate will be 11% reduced. * Vehicles valued between $16,000 and $19,100, the tax reduction will be 10%. * Vehicles valued between $19,200 and $22,200, the tax reduction will be 9%. * Also, 20% additional reduction will apply to heavy-duty vehicles, public transportation, tourism or student transportation, trucks, or tractors used in agriculture. However, there is still a final round of voting that will take place in Congress on Thursday. If final approval is given, the approved scale of reductions will be released. And the National Insurance Institute must apply the new scale of reduction beginning Nov. 1. ------------------- Do you prefer a Marchamo tax forgiveness this year or price reduction, due to the ban on driving restrictions and economic crisis caused by the pandemic? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com Professional's
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