By In a move spearheaded by Costa Rica’s Ministry of Treasury (Ministerio de Hacienda), significant updates have been introduced to the vehicle property tax system, commonly known as the “marchamo.” These changes are set to ease the financial burden on vehicle owners, particularly businesses managing large fleets, by offering new, flexible payment options. The revisions are expected to have a significant impact on fleet-dependent operations and small to medium-sized businesses.
The tax, which applies to all registered motor vehicles, aircraft, and boats listed in the public registry, is an annual obligation. Payments must be made between November 1 and December 31 of each year to avoid penalties. However, recognizing the challenges faced by businesses with extensive fleets, the Ministry of Treasury now allows partial payments, giving businesses greater flexibility in managing their tax obligations.
A New Opportunity for Fleet Owners
Under the new provisions, owners of circulating fleets can make three equal prepayments throughout the year, rather than a single annual payment. The schedule for these payments is:
- First payment: Last working day of March.
- Second payment: Last working day of June.
- Final payment: Last working day of September.
This change is particularly beneficial for businesses in industries such as logistics, transportation, and tourism, where cash flow can fluctuate throughout the year.
Streamlined Payment Processes
For motor vehicles, the tax continues to be collected alongside mandatory vehicle insurance by the Instituto Nacional de Seguros (INS) through the annual circulation permit. This streamlined approach ensures a one-stop solution for compliance.
For boats and aircraft, tax obligations require the use of a specialized form (D.118) available from the Ministry of Treasury’s tax offices, with values verified through the AEROEMBA platform.
Transparent Fiscal Valuation
The tax’s fiscal base is determined by the vehicle’s value:
- New or First-Entry Vehicles: Based on the customs-declared value, including purchase price, insurance, and freight costs.
- Used Vehicles: Calculated using the higher value between the purchase contract or importation cost, adjusted for depreciation according to the vehicle’s model year.
Penalties and Compliance Incentives
Strict measures have been put in place to ensure compliance. Delayed payments incur a monthly fine of 10%, up to a maximum of 100% of the owed amount. Moreover, unpaid taxes become a lien on the vehicle, prioritizing this debt over other claims and constituting a personal liability for the owner.
Innovative Solutions for Businesses
The Ministry of Treasury has introduced digital tools like AutoGestión and AEROEMBA, enabling businesses and individuals to verify fiscal values and meet their obligations efficiently. For more complex processes, such as fiscal value adjustments or claims, the TRAVI virtual platform is available, modernizing how vehicle owners interact with tax authorities.
Business Impact and Expert Commentary
“This initiative demonstrates the Ministry of Treasury’s commitment to creating a supportive environment for businesses,” said a representative from a local transportation company. “By providing options that cater to operational needs, this change makes it easier for companies to remain compliant without compromising their financial health.”
Fleet owners, rental companies, and other transportation-dependent sectors are poised to benefit from these updates, which not only reduce financial strain but also improve tax compliance and operational planning.
About the Ministry of Treasury (Ministerio de Hacienda):
The Ministry of Treasury of Costa Rica oversees the nation’s fiscal and financial policies, ensuring responsible management of public resources. Through initiatives like the updated vehicle tax system, the Ministry works to modernize tax administration, enhance compliance, and promote economic development. These efforts aim to align fiscal policy with the needs of citizens and businesses, fostering a resilient and inclusive economy.
