Tax Incentive for Second-Hand Electric Vehicles

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.

Thursday, November 8, 2018

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.

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Nacion.com reviews that "... The benefit includes cars, motorcycles, cargo vehicles, minibuses or buses. Specifically, they are exonerated from paying the Selective Consumption Tax. The incentive will apply only to vehicles with a CIF customs value not exceeding $30,000. This economic limit, however, shall not apply to public transportation vehicles or cargo transportation."

"These second-hand electric vehicles will also not be subject to vehicle restrictions and may use blue parking within public parking lots, as well as supermarkets, malls and other private parking lots, as stipulated in Law No. 9518, Incentives and Promotion for Electric Transportation, of January 25th, 2018".

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More on this topic

Electric Cars: Tax Benefits Extended

January 2020

In Costa Rica, the Ministry of Finance decided to extend the deadline by 24 additional months so that the import of hybrid and electric vehicles can be done at reduced rates and in some cases without paying taxes.

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.

Bureaucracy and Electric Cars

August 2018

In Costa Rica, the law on incentives to import these types of vehicles has been in force for six months, but agencies are not able to take advantage of the exoneration because the Treasury has not yet adapted its customs computer system.

Although the "Law of Incentives and Promotion for Electric Transport" came into force six months ago, distributors are still facing obstacles to complete the importation processes under the new tax benefits scheme.

Tax Exemptions for Electric Vehicles Comes Into Effect

May 2018

The regulation that grants tax benefits on imports of electric cars has come into force in Costa Rica, and according to agencies it will help final prices to fall between $5 thousand and $10 thousand per unit.

The regulation that will allow the entry into force of the law was published in La Gaceta, and will enable electric vehicles that have been held in Costa Rican customs offices to be released.

Exemptions for Electric Vehicles

February 2016

In Costa Rica a new bill under analysis aims to make imports of hybrid and electric vehicles exempt from sales, selective consumption and customs duties taxes.

Among the incentives proposed in the bill under discussion in the Assembly, is a 100% exemption from sales tax and 100% from the selective consumption tax on imports of motor vehicles, public transport vehicles, cargo transport vehicles and rechargeable hybrid and electric motorcycles imported into the country.

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