Cars over $26,200 will pay “luxury” tax

As of September 1, cars over $26,200 will pay internal taxes at a rate of 20% corresponding to the first scale of this tax. This tax will begin to impact from the lowest level since its application. In the last adjustment, it applied to vehicles over $27,400. Meanwhile, the second scale will have a 35% tax surcharge starting with models valued at $48,404. It is due to the 6.42% adjustment corresponding to the April, May and June quarter, which arises from the Wholesale Price Index System (SIPM) and will be in effect until the end of November, according to calculations made by automakers.

Source: Ámbito