Costa Rica: Taxable Value of Used Vehicles Under Question

Used car importers argue that the Treasury is using the 2015 value of cars as a reference price when establishing the value of used vehicles.

Wednesday, November 19, 2014

The Costa Rican Chamber of Automotive Companies and deputies from the Libertarian Movement have filed an lawsuit and asked to meet with the Ministry of Finance to complain about the methodology being used to calculate the taxable value of used cars.

Jose Carballo, president of the Costa Rican Chamber Automotive, told Nacion.com that "... Decree number 34,458 H-states that a committee must be formed with representatives of new and used cars, to adjust the list of car values. The commission does not exist and neither are market values ​​being respected. "

Representatives from the Ministry of Finance said that "... The formula was supported by the School of Statistics at the University of Costa Rica ... " and " ...Each year, there are updates to the value of 36,000 categories, which are comprised of a group of vehicles with similar features. This year the taxable value of all vehicles fell by 4.79%, but by applying the taxable value for the 2015 tax period, some show increases in taxes. "



More on this topic

Costa Rica: Used Cars Lose Appeal

March 2016

In the past five years used cars lost 24% of market share due to improvements made in installment terms and interest on loans for buying new vehicles.

The market for used vehicles in Costa Rica has seen five years of decline, lacking attractive incentives for imports and being at a competitive disadvantage to the new vehicles market.

Taxes on Used Vehicles in Costa Rica

August 2013

Under pressure from importers the government has lowered taxes for importing used motor vehicles, but diluted the reduction by increasing the notional taxable value.

Car dealers in Costa Rica are asking for the establishment of a new formula for calculating taxes on used vehicles.

Importers Demand Lower Taxes for Used Cars

July 2013

Sellers of used cars in Costa Rica believe there is discrimination in the way the Ministry of Finance estimates import taxes on cars.

According to Jose Carballo, president of the Costa Rican Automotive Chamber, the industry complains that 52% is charged for new vehicles, while used cars which are over six years old are charged 79%.

Costa Rica: Fewer and Fewer Used Vehicles

June 2013

The fall in the number of imported used vehicles has continued in the first five months of this year, falling by 40% compared to the same period in 2012.

According to data provided by the Ministry of Finance, the reduction was seen mainly in cars and a little less on vehicles used to transport goods.

 close (x)

Receive more news about Auto Industry

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Lead Solution

Lead Solution is trust & reliable used and brand new vehicle exporter in Japan. We deal with Many vehicle dealers and individual customers in every continent and have vast experience vehicle of vehicl
Operates in Costa Rica, Guatemala, Nicaragua, Panama, El Salvador, Honduras and Central America
Phone: (+81) 47-312-8887

Company Profile

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jan 22)
Brent Crude Oil
55.050
Coffee "C"
125.35
Gold
1,856
Silver
25.490