With the publication of decree 42080-H-MINAE-MOPT in the edition of the Official Journal of Thursday, January 16, 2020, the benefits will be maintained until December 2021. See full publication.

This extension in the validity of the tax benefits applied to imports of this type of units was granted, due to the fact that the amount of electric vehicles in the country is still low.

See "Electric Cars: Who Are the Potential Buyers?"

German Morales, managing partner of the accounting services firm Grant Thornton, explained that "... technologies do not change so quickly in one place and it is not so easy for Costa Rica to quickly have only 100% alternative energy vehicles. That's why the window for the industry is needed."

You may be interested in "Automotive business in Central America"

Morales added that "... the two years will not be enough and should rather be maintained over time. It should reach a point where only electric vehicles are exempted, but it should be a 5-7-year period."

Source: elobservadorcr.com

Do you need more information about your business sector?

Request more information:

Your message has been sent. We will contact you shortly.

Name*

Last Name*

Email:*

Telephone (Country):*

Company:*

Title:*

Size of the Company:* Choose one... Less than 100 employees Between 100 and 500 Between 500 and 2500 More than 2500

Industry:* -None- Agro Alimentos y bebidas Construcción e infraestructura Banca y finanzas Farmacéutica y salud Servicios Retail Automotriz Energía y minería Química y plástico Bienes Raíces Educación Bienes de consumo Industria y manufactura Transporte y logística Telecomunicaciones Administración pública

Yes, I want to receive a call from a salesperson*

Comments:*  

this site is protected by reCAPTCHA and Google's privacy policy and terms of service.

Need assistance? Contact us

(506) 4001-6423

More on this topic

Electric Bicycles: Booming Business in Costa Rica

January 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.

According to figures from the Ministry of Finance, during 2019 3,585 electric bicycles and motorcycles were imported into the country, 93% more than the 1,857 reported in 2018.

Incentive to Import Electric Cars

December 2019

As of January 2020, electric vehicles imported into El Salvador and Honduras will be exempt from the import duty, which was 30% in El Salvador until now.

The measure, which will be applied in both countries, was approved at the session of the Council of Ministers of Economic Integration (COMIECO), held in El Salvador on December 5 and 6.

Electric Cars: Incentives Increase Demand

April 2019

With 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.

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.

Tax Incentive for Second-Hand Electric Vehicles

November 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.

To encourage the use of electric vehicles in the country, the Alvarado administration signed the Executive Decree 41426-H-MINAE-MOPT, which grants a fiscal benefit to second-hand electric vehicles whose antiquity is equal to or less than 5 years from the year of its model.