No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeNewsCosta RicaPresident Alvarado vetoes marchamo discount; payments start today

President Alvarado vetoes marchamo discount; payments start today

President Carlos Alvarado vetoed legislation that would have discounted Costa Rica’s mandatory vehicle circulation permits, or marchamos, citing budgetary concerns.

The cuts would “generate a loss of resources that the country urgently needs at this time,” President Alvarado said after the veto.

“What was approved generates a budget gap and would send a negative message to the markets that would jeopardize the economic stability of the country,” he said. “It also goes against the objectives of the agreement we have reached with the International Monetary Fund (IMF) to stabilize the economy.”

Deputies approved the project on Tuesday, La Nacion reports. The discount will apply for vehicles valued at less than ¢15 million (about $24,000) and will range between 9% and 45%.

The initiative had been approved with 35 votes in favor and seven against by the unicameral Legislative Assembly.

Payments for marchamos are collected starting November 1. The amount varies according to the year, make and use of a vehicle. It includes Mandatory Automobile Insurance (SOA), property tax, sales tax and other taxes, as well as unpaid traffic fines.

The deadline to pay is Dec. 31; starting Jan. 1, drivers without the 2022 marchamo sticker displayed on their vehicles will be fined and have their license plates removed.

Paying after the deadline also entails a daily fine of a certain percentage of every tax that is part of the marchamo, plus a monthly fine of a percentage of the value of all insurance charges.

As of November, vehicle owners can find out exactly what they owe on the INS website.

Vehicle owners can pay their marchamo at hundreds of authorized collection points, including INS branches, banks and many businesses.  Payment locations can be found here.

Trending Now

Venezuela Tensions Rise After U.S. Strike on Alleged Narco Vessel

Pentagon chief Pete Hegseth announced Friday a new strike in the Caribbean off Venezuela’s coast against an alleged narco-boat, leaving 4 dead. “Following President...

El Salvador Bans Inclusive Language in Public Schools

El Salvador's President Nayib Bukele has taken another step to reshape the country's education system. On Thursday, he declared a complete ban on what...

Costa Rica Nominates Rebeca Grynspan for UN Secretary-General Role

Costa Rica has put forward Rebeca Grynspan as its candidate for United Nations secretary-general, a move that highlights the nation's push for stronger Latin...

Costa Rican Hotels Warn of Job Risks Amid Drop in Tourists

Hotels across Costa Rica face mounting pressures as tourist numbers dip and a sluggish dollar exchange rate eats into their earnings. From January to...

Juanes Lands in Costa Rica to Shoot Videos for New Tracks

Colombian singer Juanes has arrived in Costa Rica, turning our country's landscapes into backdrops for his latest music videos. The artist, known for hits...

Costa Rica Weather Alert: Heavy Rain, Flooding, and Landslides

The National Meteorological Institute (IMN) issued a warning on Thursday about persistent heavy rains and thunderstorms affecting much of Costa Rica.These conditions are the...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica