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INS hopes to bring in $351 million from 2013 “Marchamo”

Marchamo 2013

November 21st, 2012 (InsideCostaRica.com) The National Insurance Institute (INS) began charging the 2013 Marchamo (annual vehicle tax) last Monday, and INS president Guillermo Constenla said they hope to raise 175.6 billion colones, or about $351 million dollars.

Constenla said that 75% of the funds go into the coffers of the Ministry of Finance, INS keeps 16% and the rest is divided between the Road Safety Council (COSEVI) and municipalities.
INS says the tax will be paid on more than one million vehicles.

 

Constenla justified the price hike in the mandatory automotive liability insurance, which makes up part of the cost of the Marchamo payment, saying a better cash reserve is needed to care for those injured in auto accidents.

 

Close to 70% of vehicles in the country have also seen the fiscal value of the vehicle increased this year, as a result of a change in the method used by the tax department to calculate vehicles’ values.  This will result in higher costs for the annual Marchamo payment, as the payment is based on the fiscal value of the vehicle.

 

Constenla said that in the case of motorcyclists share is higher because they are the main sufferers in accidents.
Vehicle owners must pay the Marchamo payment by December 31st.  Those who fail to do so face the confiscation of their license plates, impoundment of the vehicle, and fines up to 47,000 colones.

 

To find out what you owe, have your plate number handy and visit INS’s web site at http://www.ins-cr.com, or call 800-6272-4266.  You can also send a text message to the number 1467 with the word “marchamo” followed by your vehicle’s plate number.

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