Receiving a residency under the retirement rules state that a (new?) car can be purchased here without paying either the ITIBIS or the ISC (Selective Consumption Tax), according to Web-based translations of the law.
Is this borne out by anyone's experience? Any info on this matter is greatly appreciated.
It is a bit of wordsmithing on the part of Adana......but it is something the new car dealers have fought hard to get.
To explain, the dealers have already paid a dealer ITBIS tax to import the vehicle, so in essence that tax has been paid and is reflected in the higher price you will pay for a vehicle here versus elsewhere. So the actual break you receive as a new resident is on Selective Consumption.
That having been said, it is my understanding you are still required to pay the 17% tax for first placa....so the savings, if any, over buying it elsewhere and then shippping it in....is pretty much negated. Buying a new vehicle under DR/Cafta will also yield an additional slight savings.
In the end, it is pretty much buyers choice.....but there is no significant savings, if any.
Note also that many new models sold here may not be an apples to apples comparison with models sold elsewhere.
Good luck, whichever route you take.
Respectfully,
Playacaribe2