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Cochabamba: Bill to reduce vehicle taxes

Mayor of Cochabamba presented a bill seeking to reduce the Tax on vehicles.

The “Los Tiempos” website commented on the proposal presented by Manfred Reyes Villa Avilés, alternate mayor of Cochabamba, who presented this Friday a municipal bill for the reduction of the vehicle tax. According to the official, the law in question will benefit all those who buy vehicles legally and had to pay the tax for the year.

He stated;

“A lot of people wait until the beginning of the year to buy that vehicle, so we are not moving the economy as we should, and it also allows the importers to put all their incentives at the beginning or end of the year. We want to change that, being a more understanding mayor’s office”.

1. Article cited

The bill in question proposes an amendment to Article 21, which shall be worded as follows;

The reduction of the first registration of the Land Motor Vehicle is established to pay by twelfths of the determined tax, calculable from the month corresponding to the import year or the invoice of the sale in the domestic market”.

It is important to point out that the reduction will only apply to those motor vehicles acquired from importers, vehicle dealers, and manufacturers.

Source: Los Tiempos 13/09/21

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