Electric Cars: Incentives Increase DemandWith the tax benefits granted to the import of electric cars, the number of units entering Costa Rica went from 40 in 2017 to 350 in 2018.Tuesday, April 9, 2019
Last year, the Law of Incentives and Promotion for Electric Transportation came into force, which grants fiscal benefits to the import of electric cars, such as the exoneration of between 50% and 100% for sales, consumption and customs taxes, according to the import value of each car. Source: Nacion.com Do you need more information about your business sector?Request more information: Need assistance? Contact us
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Electric Bicycles: Booming Business in Costa RicaJanuary 2020 Because the cost of electric bicycles is considerably lower than other types of electric vehicles, the number of units imported into the country has increased exponentially in recent years. New Boost for Electric Car SalesOctober 2019 Favorable financing conditions for the purchase of this type of vehicle and lower rates for freight services are part of the actions proposed by the government of Costa Rica to boost sales of electric vehicles. Tax Incentive for Second-Hand Electric VehiclesNovember 2018 In Costa Rica, the government approved a decree that exonerates from the payment of the selective consumption tax to second-hand electric cars that are 5 or less years in service. Costa Rica: Used Cars Lose AppealMarch 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.
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