Definition, Meaning & Synonyms

ipva

noun

/ip-va/

Definition

IPVA stands for Imposto sobre a Propriedade de Veículos Automotores, which is a tax levied on the ownership of motor vehicles.

Examples

The IPVA is calculated based on the vehicle’s market value.
Many Brazilians worry about the payment of the IPVA as it can be a significant annual expense.
Failure to pay the IPVA can result in fines and complications with vehicle registration.

Meaning

It is a mandatory tax in Brazil that must be paid annually by vehicle owners. The revenue collected from this tax is used to fund state and municipal services.