The “Marchamo” is a mandatory cancellation of vehicle insurance, which is paid once a year, to the National Insurance Institute (INS). It is an indispensable requirement for every driver to be able to circulate on the roads in Costa Rica and is also called the “right of circulation”. The collection of the marchamo begins on November 1 of each year, being the deadline to make your payment on December 31.
It is important to emphasize that a vehicle that circulates without the marchamo, if stopped by a traffic officer, will be fined ¢51,000 and is exposed to the withdrawal of the vehicle from circulation. In addition, the National Insurance Institute (INS) imposes a penalty for each day you fall behind on the payment.
The amount to be paid for the marchamo is calculated on basis of three elements: devaluation of the vehicle (annual depreciation rate of 10%), accumulated inflation in the last year (12.13%), and change in the tax burden (0%) applied to vehicles. According to this formula, by 2023, the vehicle fleet will have an increase of 2.13% in the fiscal value, which means that the property tax of these vehicles will grow compared to the previous year.
Among the requirements to be able to make the payment of the corresponding marchamo is: 1. Have the identity card of the person who is going to make the payment (if you do not have this identification document, the citizen must present the residence card or passport). 2. Certificate of technical review approved and current. In case this is not the case, you can pay the marchamo, and once you have the approved technical review, you can add the “sticker” or proof of payment that adheres to the windshield of the vehicle. 3. Vehicle license plate number. 4. Vehicle owner identification data.
Keep in mind that it is a payment that must be made every year if you own vehicles that circulate in the Costa Rican territory.