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2 clusters · 3 sources · 23 days · First seen · Last updated

Costa Rican vehicle import tax regulations

Overview

The Costa Rican Ministry of Finance issued Decree 45920-H to address the under-invoicing of imported vehicles, a practice estimated to have caused ₡20 billion in lost tax revenue.

Under the new regulations, the tax base for new and used vehicles will be determined by comparing the commercial invoice value, including freight and insurance, against the official value registered by the Ministry of Finance. Taxes will be applied based on whichever value is higher. In cases where a specific model is not listed in the official registry, importers are required to provide technical information to establish an objective value.

To increase sector formality, the decree also restricts individuals not registered as vehicle sales taxpayers to importing only one vehicle per year. The government stated these measures are intended to ensure fairer market competition and prevent tax evasion that occurred after previous directives allowed importers to declare values via sworn statements.

Entities

Instituto Costarricense de Electricidad (ICE) · Costa Rica · Ministry of Finance · Marco Acuña · Laura Fernández

Timeline

  1. 14 days ago

    [BUSINESS] 3 sources
    Costa Rica issues decree to combat vehicle under-invoicing

    Costa Rica has issued a new decree to prevent vehicle under-invoicing, aiming to recover ₡20 billion in lost tax revenue by comparing invoice values against official Ministry of Finance records.

  2. about 1 month ago

    [POLITICS] 4 sources
    Costa Rica invests billions in indigenous territories, Route 32 upgrades

    Costa Rica's INDER invests over ₡2.5 billion in indigenous infrastructure, while ICE aims to finish lighting and telecom on Route 32 by mid‑September, boosting connectivity to the capital.

Sources

delfino.cr · elmundo.cr · observador.cr