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    Avoid Fines in 2021 for the “Marchamo”

    Costa Rican tax on private vehicle circulation

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    TCRN STAFFhttps://www.TheCostaRicaNews.com
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    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.

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