Cars over $5,050,000 will pay luxury tax from September

Cars over ,050,000 will pay luxury tax from September

The number arises from an adjustment of 1.777%, corresponding to the increase in wholesale prices of vehicles in the quarter of April, May and June. To this taxable value, leaving the factory or distributor, must be added the payment of 21% VAT plus the commission margin of the commercial network of 15%.

Due to the different ways of computing the lien and the possibility that this margin may be waived, there is no single retail price, but the reference value is around $5,050,000. Until the end of August, the models must pay the first scale are those that are above $4,300,000

Due to the method of calculation of Internos, a rate of 20% is equivalent to a price increase of around 25%, which means that the models that are affected are left out of the market. That is why the brands tend to keep the 0 km that are around that price just below that limit to avoid paying the tax surcharge. Taking into account the lack of supply in the market, these models are no longer sold or are marketed at overpriced prices.

Once the new base is updated, the models that are “capped” close to the tax base will have an increase to the public in accordance with the variation of the wholesale index, that is, more than 17%.

If the current price of the blue dollar is taken, the 0 km of more than 16,000 dollars “ticket” will have to pay taxes. Today it affects those of about 18,500 “physical”.

This tax affects imported models, but also several national ones and is designed to tax luxury goods, but the vehicles that will be affected belong to a medium segment. Keep in mind that there are only two 0 km models left under $3,000,000.

In the case of the second scale, with a rate of 35%, the tax base goes from $5,568,289 to $6,550,000. Also, due to the way this tax is calculated, the prices of the models reached, with this additional 35%, cause a 50% increase in the retail price. In this case, the price of the cars that are reached is $9,300,000 in the first billing. That is, those made by importers or terminals to the concessionaire.

Due to the lack of vehicles, the price to the public that is paid is the one that arises from the negotiation between the parties and can be much higher due to surcharges.

Source: Ambito

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