Luxury cars to be hit hard by taxes in Costa Rica

The government of Costa Rica is considering slapping a 100 percent tax on luxury vehicles as a strategy to soften the blow of high oil prices.

Friday, June 20, 2008

The Finance Minister, Guillermo Zúñiga, suggested this tax to the Legislative Assembly with the hope of increasing revenues to 20 billion colons (about 1 billion dollars).
Another suggestion was to eliminate the tax on diesel fuel, used mainly for truck transporters, farmers, and public transportation of people, and adding it to the existing gasoline tax.

More on this topic

The Luxury Cars Circulating in Costa Rica

October 2017

According to the guild of vehicle importers, the premium car and SUV segment accounts for about 15% of total sales.

Data from the Association of Importers of Vehicles and Machinery (Aivema), "... on imports and sales shows that the total number of premium cars and SUV's oscillates between 5% and 8% of the 36,000 new units that came into the country in 2017, but they represent 15% of sales.

The "Cavallino Rampante" in Panama

January 2015

4.7% of cars sold between January and November 2014 corresponded to the segment of luxury cars in Panama, where the italian company Ferrari expects to set up in March.

Among the brands sold in Panama are Jaguar, Cadillac, Lincoln and Volvo, other brands in the luxury range but with less demand in this market are Maserati and Lamborghini.

Car Auction in Honduras

January 2015

On January 26 the Ministry of Finance of Honduras will be holding an auction of various luxury vehicles owned by the state.

Honduras Government Purchase PUBLIC AUCTION SEFIN-001-2014 DGBN:

"PUBLIC AUCTION OF LUXURY VEHICLES, PROPERTY OF THE STATE OF HONDURAS."

Scheduled dates for the auctions, Monday 26, Tuesday 27, Wednesday 28 and Thursday 29 January, 2015.

Auction of 700 Luxury Vehicles in Honduras

July 2014

An announcement has been made that from July 21st, the government will start the process of selling cars and trucks in the Campus Martius, sports complex in Tegucigalpa.

The secretary of the Council of Ministers, Ebal Diaz told Elheraldo.hn that "... 'Starting next week at Campo Marte around 40 vehicles per day will be received that are to be auctioned, I was told that according to estimates there will be approximately 600 to 700 luxury vehicles to be auctioned'".

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