If you currently own or are thinking about buying a new or used vehicle please read the link
Vehicle registration fees are going up
Car valued at $15K or under will now pay $100
Cars between $15K-$50K will now pay 1% of the value
Cars over $50K-$85K will pay 1.25% of the value
Cars over $85K will pay 1.5% of the value
Imported used cars will pay $500 and luxury cars will pay 2% of the value- this cost is only paid once. This is a significant increase from $10 and 1%
http://www.prensa.com/in_english/Aumenta-registro-vehicular-segunda-Panama_21_4665493413.html
Replies
Not going anywhere, but this is not the place to come if the #1 priority is to reduce your cost of living.
Are they raising the fee on ships registered in Panama?
That would hurt.
The article says those fee increases apply to imported vehicles. If I bought a Toyota from Ricardo Perez in Panama, is that considered an imported vehicle? Panama does not manufacture cars, so every car here is imported at some point. Does the increase apply only to cars individuals import, or to all cars? It is not clear.