(prensa.com) The Mayor’s Office of Panama announced, on Monday, a municipal adjustment that would increase the circulation tax.
According to the adjustment, the cost of the license plate will depend on the value of the vehicle on which it will be placed.
It was reported that this increase will take effect beginning January of next year.
The Panama City Mayor’s Office explained that owners of vehicles that cost less than $19,999 will pay a $28 circulation tax.
Meanwhile, for vehicles valued between $20,000 and $49,999, owners will pay $38; for those costing between $50,000 and $75,000, owners will pay $50; and finally, those motorists driving vehicles valued at $75,000 or more, will be obligated to pay a circulation fee of $150.