2001News

Luxury item tax

The Department of Customs has authorized a reduction of the Selective Tax on Consumption for vehicle imports. The exemption was raised to US$15,000, up from US$10,000. The decision comes after vehicle imports fell 60% in the first six months of this year compared to last year. The increase in the taxes, plus the start of …
2001News

Inflation down

The Central Bank reports that inflation was 2.28% from January to July of this year. El Siglo says inflation in July was down 0.24% when compared to the previous month. The Central Bank is forecasting a year end inflation rate of 7-8%. Inflation for the past 12 months was 10.43%.