Costa Rica implements new provisions, through Resolution MH-DGH-RES-0061-2024 of the General Directorate of Finance, which establishes new provisions for the determination of the fiscal value of vehicles. Therefore, this affects the qualification for tax exemptions under Law N° 8444 

How does this revision affect the value of the vehicle?  

This regulation sets a maximum fiscal value of €33,642 (17,639,173.44 colones) for vehicles intended for individuals with disabilities in Costa Rica, who are the sole beneficiaries of this tax exemption, in accordance with the provisions of Law N° 8444. Previously, the valuation relied on systems such as ‘Cartic@’ and customs comparison methods. However, recent legal amendments have repealed these systems and procedures, necessitating the adoption of a new mechanism to ensure compliance with tax obligations.   

In this scenario, the resolution authorises the use of the value stated in the commercial invoice or proforma issued by the seller. This is provided if it is no more than one month old. This is used to determine the tax value of vehicles subject to exoneration in Costa Rica. This facilitates the process for beneficiaries and reduces bureaucratic prerequisites. In addition, it is established that the reported value will be subject to verification during the unstorage of the vehicle. This will ensure compliance with the tax controls in force. 

Advantages and tax benefits  

  • Minimun exemption period of seven years, with the possibility of an extension
  • Limit of one exempt vehicle per beneficiary.
  • In case of theft or accident, the owner must pay 50% of the outstanding tax for the remaining exemption period.
  • If the vehicle is driven by someone other than the registered owner, the tax benefit will be revoked.

Finally, the resolution underscores the importance of transparency and simplicity in managing of tax benefits in Costa Rica, ensuring alignment with the updated legal framework. The adopted measures will take effect immediately upon publication in the Official Gazette ‘La Gaceta’.  

Auxadi has accumulated over 45 years of experience in numerous countries around the world. If you require information regarding tax developments in Costa Rica and other jurisdictions, please do not hesitate to contact us. 

Can Auxadi help?

Auxadi can become your ideal partner. We offer a one stop shop value added outsourcing services in the areas of accounting and reporting, tax compliance, payroll management and representation services, among others.

Local Knowledge – International Coverage

Founded in 1979, Auxadi is a family-owned business working for multinational corporations, private equity funds and real estate funds. It’s the leading firm in international accounting, tax compliance and payroll services management connecting Europe and the Americas with the rest of the world, offering services in 50 countries. Its client list includes many of the top 100 PERE companies. Headquartered in Madrid, with offices in US and further 22 international subsidiaries, Auxadi serves 1,500+ SPVs across 50 jurisdictions.

All information contained in this publication is up to date on 2024. This content has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice.No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this content, and, to the extent permitted by law, AUXADI does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.