Costa Rica’s Hacienda (Finance Ministry) implemented a measure that inadvertently led to ¢20 billion (approximately $33 million USD) in tax evasion through the underreporting of value for imported luxury vehicles. The loophole allowed for reduced import taxes, encouraging individuals to register vehicles at a lower declared value. Authorities have since closed this “portillo” – or loophole – but it remained open until August of last year. The Ministry initially spurred the issue through the previously implemented measure. This situation highlights concerns regarding oversight in import tax regulations in Costa Rica and the potential for significant revenue loss due to loopholes in the system. Officials are now focused on preventing similar occurrences in the future and recovering lost funds where possible.