AUTO IMPORT REGS (REVISED).Regulations governing the taxation of new and used vehicles have been changed substantially in Costa Rica Costa Rica (kŏs`tə rē`kə), officially Republic of Costa Rica, republic (2005 est. pop. 4,016,000), 19,575 sq mi (50,700 sq km), Central America. , effective November 30, 1998: Government issued a new decree, eliminating the ad valorem According to value. The term ad valorem is derived from the Latin ad valentiam, meaning "to the value." It is commonly applied to a tax imposed on the value of property. customs duty customs duty: see tariff. on vehicles (formerly 17% of the CIF (1) (Common Intermediate Format) A standard video format used in videoconferencing. CIF formats are defined by their resolution, and standards both above and below the original resolution have been established. The original CIF is also known as Full CIF (FCIF). value); reducing the consumption tax for all categories of vehicles, both new and used, but favoring favoring an animal is said to be favoring a leg when it avoids putting all of its weight on the limb. A part of being lame in a limb. vehicles not more than three years old; eliminating the former five-year value depreciation schedule, which was used to determine the value of vehicles for tax purposes and which favored older vehicles; and requiring that registered vehicle importing businesses apply import taxes against the average wholesale value of the vehicle, while individual importers must apply taxes against the average retail value; These changes are controversial among vehicle importers, particularly importers of used vehicles, and the local Chamber of Automotive Affairs is challenging the changes in the Costa Rican courts. Most used imported vehicles come from the U.S. Approximately 80% of all imports are used Japanese vehicles that are manufactured for the U.S. market. |
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