Jump To:
→ Introduction
→ Calculating Customs Duty
→ Examples
Introduction
Vehicles imported into Costa Rica, whether new or used, either for personal use or for sale, are generally dutiable at the following rates based on your vehicle's customs appraised value, and its age (the number of years that the vehicle has from its date of manufacture to the date that it goes through Customs.)
Vehicles from 0 to 3 years old 59.33%
Vehicles from 4 to 5 years old 70.63%
Vehicles more than 6 years old 85.32%
Calculating Customs Duty
The dutiable amount of your vehicle is calculated as follows:
Customs Duty = (VCAV) * CDP%
VCAV: Vehicle's Customs Appraised Value
CDP%: Customs Duty Percentage
Vehicle's Customs Appraised Value
Your Vehicle's Customs Appraised Value (VCAV) is calculated by adding your vehicle's market value, your vehicle's freight, and your vehicle's freight insurance.
VCAV = VMV + F + FI
VMV: Vehicle's Market Value
F: Freight
FI: Freight Insurance
Back to Top
Vehicle's Market Value (VMV):
Customs use the Black Book Guide, a U.S. Consumer Research Magazine that establishes the current market value of vehicles worldwide, to appraise your vehicle based on the model and its manufacture date.
The Black Book Guide provides two market prices for vehicles: The wholesale price and the retail price. Customs will use the wholesale price if you are a car/motorcycle dealer and/or import company. Otherwise, they will use the retail price of your vehicle.
You may show your invoice if you purchase your vehicle recently. However, Customs may reject prices shown on an invoice at their own discretion.
Back to Top
Freight (F):
It is the cost of transporting your vehicle from your country to Costa Rica. Customs will look at your bill of lading in order to determine that.
If there is no bill of lading and/or you drove your vehicle from a country to Costa Rica, your freight will be equaled to 7% (seven percent) of the market value of your vehicle according to the Black Book Guide. Customs will abide by this formula:
Freight = VMV * 0.07
VMV: Vehicle's Market Value
Back to Top
Freight Insurance (FI):
This is the amount of money that you pay to insure your vehicle.
If you did not pay any insurance, Customs will calculate the insurance as follows:
Customs will take your vehicle's market value according to the Black Book Guide, then add the amount of money of the freight. Multiply by 110% and then by 1.5% (see formula):
Freight Insurance = (VMV + F ) * 1.10 * 0.015
VMV: Vehicle's Market Value
F: Freight
Back to Top
Custom Duty Percentage (CDP%):
Once Customs appraise your vehicle, they will use that amount to calculate the percentage that your vehicle must pay in order to enter Costa Rica.
The Customs duty percentage is determined by the age of your vehicle that is calculated by adding the number of years between the date of manufacture of your vehicle and the date that your vehicle goes through Customs in Costa Rica.
If your vehicle is from 0 to 3 years old, the duty rate is 59.33% of the total value of your vehicle for Customs Duty Purposes.
If your vehicle is from 4 to 5 years old, the duty rate is 70.63% of the total value of your vehicle for Customs Duty Purposes.
If your vehicle is more than 6 years old, the duty rate is 85.32% of the total value of your vehicle for Customs Duty Purposes.
Time Customs Formula Duty Rate
0 to 3 (VCAV * 0.5933) 59.33%
4 to 5 (VCAV * 0.7063) 70.63%
6+ (VCAV * 0.8532) 85.32%
Time: Number of years between the date that your car was manufactured and the time that your car is passing through customs in Costa Rica.
Customs Formula: Formula that Customs will use to calculate the duties that you must pay for your vehicle.
Duty Rate: Percentage that Customs charge for letting your car into Costa Rica.
Back to Top
Examples
Example I: You pay for shipping and insurance
For example, if you have a BMW 750iL Sedan 4D manufactured in 1998 and you are a person - not a company- bringing a car into Costa Rica, you shipped your car from Miami, Florida to Puerto Limon, Limon, Costa Rica, and you are bringing the car into Costa Rica in 1999. Your freight from Miami, Florida, U.S.A. to Puerto Limon, Limon, Costa Rica cost $700.00, and the Freight insurance cost $150.00
Customs will calculate the customs duties using its formula as follows:
Customs Duty = VCAV * CDP
Since VCAV = (VMV + F + FI )
VMV:
Vehicle's Market Value According to Black Book Guide's suggested retail price as of August 1999: $69,700.00
F:
The freight from Miami, Florida to Puerto Limon, Limon, Costa Rica was $700.00
FI:
The Freight insurance was $150.00
Then, your Vehicle's Appraised Value is: $70,550
CDP (Custom Duty Percentage):
Since your car is 1 year old, customs will apply the following formula:
Formula:
Customs Duty = VCAV * 0.5933
Customs Duty = $70,550.00 * 0.5933
Customs Duty = $41,857.31
You will have to pay an amount equaled to $41,857.31 U.S. dollars to bring your car into Costa Rica
Example II: You drive your vehicle to Costa Rica:
If you have a BMW 750iL Sedan 4D manufactured in 1998 and you are a person - not a company- bringing a car into Costa Rica, you drove your car from the U.S. to Costa Rica, and you are passing through Customs in 1999. Consequently, you did not pay freight and/or freight insurance for your vehicle.
If you did not pay freight and/or freight insurance, Customs will calculate them for you and add them to the formula to calculate your vehicle Customs appraised value.
Freight:
Customs will calculate it as follows:
Freight = VMV * 0.07
VMV = Vehicle's Market Value according to Black Book Guide
Freight = $69,700.00 * 0.07
Freight = $4,879.00
Freight Insurance:
Freight Insurance = (VMV + F ) * 1.10 * 0.015
VMV = Vehicle's Market Value
F = Freight
Freight Insurance = ($69,700.00 + $4,879.00) * 1.10 *0.015
Freight Insurance = $74,579.00 * 1.10 * 0.015
Freight Insurance = $1,230.00
The freight and freight insurance amounts that Customs will add to the formula are: $4,879.00 and $1,230.00 respectively.
Your Vehicle's Customs Appraised Value would be
$69,700.00 + $4,879.00 + $1,230.00 = $75,809.
Your duty customs will be equaled to:
$75,809 * 0.5933 = $44,977.48
Comments
You pay less Customs Duties if you ship your car and pay freight insurance. As you can see from the above examples, you save $3,120.17 if you ship your car and pay freight insurance.
If you are a diplomat from an Embassy or Consulate, you do not have to pay Customs duties.
Back to Top
|
Win a free 7-day vacation for two including deluxe accommodations, meals, alcoholic beverages & more - Enter now to win! 