The license tax is part of the car’s expenses. Find out the details.
He patent tax It is usually a major expense of the car, which can be paid annually or in 5 installments. Although the value varies depending on the jurisdiction in which the vehicle is registered, it represents the 3.5% of the annual tax amount. If the vehicle is new, the license plate is charged by the Province, and if it is an older model (11 years or more old) it is municipalized.
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What happens if I never paid the patent?
If the patent is not paid, Debt accumulates and interest accrues. In the event that 10% of the value of the car is accumulated, the entity that collects the tax may initiate a judicial process for its collection.
This is why Many people let debt pile upand then adapt to a moratorium plan that is usually cheaper, measured in real terms, than having paid on time and in full. This is a significant risk to the usersince if this does not exist, the debt can become unsustainable.
It is also important to remember that the government clarified that paying the license plate fee is no longer mandatory for driving, and in September it was also no longer mandatory to pay fines and license plate fees before transferring a car.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
