More

    Avoid Fines in 2021 for the “Marchamo”

    Costa Rican tax on private vehicle circulation

    Must Read

    Gordon Ramsay Would be Filming New Episodes of his Series in Costa Rica

    Filming new episodes of his series "Gordon Ramsay: Uncharted" or "Extreme Flavors", from National Geographic, would be the reason...

    Famed Chef Gordon Ramsay Delighted with Caribbean Food at Limon

    The renowned British chef Gordon Ramsay is visiting the country and this week he was enjoying Caribbean food at...

    Costa Rica and Other Countries Launch Coalition to Conserve 30% of the Planet by 2030

    A coalition co-founded by Costa Rica and other countries this Monday in Paris intends to work on the conservation...
    TCRN STAFFhttps://www.TheCostaRicaNews.com
    Creating a Conscious alternative news network that we feel the world needs. Pura Vida!

    Those who do not carry the proof of payment for the private vehicle circulation Tax 2021, also known as the “marchamo”, are exposed to fines and the retainment of the vehicle, according to articles 146, subsection “x” and 151, subsection “a” of the Tico Traffic Law.

    But what else happens if you don’t cancel fines on time?

    The answer is that late fees accumulate, according to the following detail, provided by the National Insurance Institute (INS):

    Compulsory Auto Insurance: Basic annual passive rate plus five percentage points, calculated by the Central Bank of Costa Rica (BCCR), in force at the time of collection, applied in proportion to the days of delay.

    Infractions: 36% per year.

    Interest on property tax: 12.37% per year or 0.03380 per day (this percentage may vary during the rest of the year).

    Penalty for property tax: 10% per month (capped at 100%).

    Parking meters: 2% per month, up to 24%.

    With a cutoff to December 31st at 11 a.m., at least 16% of the “marchamos” were still pending payment. For the present year, 1,568,375 circulation rights were already collected. The collection began on November 2nd and was due to be paid before December 31st. The expected collection for this year exceeds ¢ 211,679 million.

    resonance Guanacaste
    RELOCATE TO THE BEACH AND WORK REMOTE Helping transition your life to live anywhere
    - Advertisement -

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    - Advertisement -

    Latest News

    Gordon Ramsay Would be Filming New Episodes of his Series in Costa Rica

    Filming new episodes of his series "Gordon Ramsay: Uncharted" or "Extreme Flavors", from National Geographic, would be the reason...
    - Advertisement -

    More Articles Like This

    - Advertisement -
    Language »
    Be Part of the Community!
    Stay Up To Date And Connected

    and engage with likeminded folks on Costa Rica

     

    12 Years Changing The Way You Look At News!

    TCRN 12 years