Every year, vehicle owners pay “marchamo,” a kind of right of circulation or vehicle property tax. This year, payments were accepted starting November 1st.
On November 30th, the Government announced that the price would be lowered. Those who have already paid will get a refund of the amount they overpaid. This will be done via a platform that the National Insurance Institute will soon enable.
The difference brings the fee down to 83% of what it originally was going to be. The decrease ranges from ¢500 and ¢3,500 and this difference is thanks to the Ministry of Finance choosing to use a lower percentage of inflation in the calculation of the fiscal value of vehicles.
Minister Acosta announced the presentation of a bill to entirely remove the inflation value from the calculation of the “marchamo” since inflation is not related to a vehicle’s depreciation. They’d like to define a curve that determines the value of a vehicle over years.
