Increase the value limit for cars to pay luxury tax

From March 1 to the last day of May, cars that have a factory or dealer value of 4,905,000 pesos or more, must pay the luxury tax due to updating the quarterly adjustment of the tax base used to calculate the tax. This will affect the majority of imported products, but also nationals in the middle segment.

So, If the vehicle has a price of 7,000,000 pesos or more to the public, it will be considered luxury and must pay the tax correspondent. This value is obtained by adding the factory price plus 21% Value Added Tax (VAT) and 15% commission margin from the commercial network. Until the end of February, the luxury tax applies to cars with a price above 5,800,000 pesos.

The luxury tax corresponds to 20% of the retail price.

The first scale of Internal Taxes, where the luxury tax, is equivalent to an aliquot of 20%. In this way, it is estimated that the price of cars will increase by 25% in total. One of the measures used by distributors to offer their vehicles to the public and avoid paying the tax in question in a legal manner is simply to keep the sale price of the cars just below the limit at which they would be taxed. assessmentTherefore, as this range widens, an increase is expected in all products.

If the current price of the informal dollar or blue dollar is used, those 0 kilometers below 18,400 dollars will not have to pay the tax. It can be seen in advance that, The 0 kilometer cars offered by distributors and dealers, even in various configurations and different equipment levels, are practically at the same price, this being below the previously mentioned 5,800,000 pesos.

Cars will increase their prices up to 25%.

The cheapest cars of January

Cars fresh from the factory are no longer found for less than 3.2 million pesos due to the increase in prices of between 5 and 6% for these products in the first month of the year. Below are the cheapest on the market in January. Citroën, Toyota and Fiat top the list.

Citroën still has the cheapest 0 kilometer car on the market.

Citroën C3 ($3,280,000): the cheapest 0-kilometer car on the market is still the Pure Tech 82 Live version with a 1.2 engine that can only be purchased with a savings plan; Toyota Etios Hatchback ($3,428,000): X MT is the most economical version; Fiat Mobi ($3,468,000): Like version with 1.0 engine only with savings plan; Toyota Etios Sedan ($3,536,000): again the X MT version is the cheapest and Fiat Cronos ($3,874,400): Attractive MY 2023 version.

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