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Costa Rica cuts tax on hybrid vehicles

Wednesday, July 24, 2013

Costa Rican President Laura Chinchilla signed a bill on Monday to slash taxes on hybrid cars by 20 percentage points, in a bid to cut fuel emissions in the Central American nation.

The tax will be cut to 10 per cent, well below the 30 to 53 per cent tax rates levied on vehicles fuelled exclusively by gasoline and diesel.

"In this bill we've incorporated incentives that should be seen as signs that Costa Rica wants to keep moving forward in its determination of achieving its carbon neutrality goal", Chinchilla said.

Source: Reuters