The Ministry of Finance (Ministerio de Hacienda) taxes all cars and motorcycles imported into Costa Rica. Location: Costa Rica borders Nicaragua and Panama by land and Colombia and Ecuador by … Import Taxes, Including Value-Added Taxes, Purchase Taxes, Uplifts and Surcharges, and Provincial Taxes (Cost, Insurance, and Freight). The Hacienda Value is used for calculation transfer or registration taxes, also the end of year “marchamo” taxes. Top Six Extra Things to Pack on Your Next Trip Abroad, Ten Things to do on the beach in Manuel Antonio, High speeds, high waves, high in the air over Manuel Antonio, In-shore fishing off the coast of Manuel Antonio, Protecting the kinkajous in Manuel Antonio, The Top 5 Reasons I love living in Tamarindo, Naturalized Costa Rican Citizenship by Marriage. The information stated within is based on information provided at the Tax Ministry web site ( http://www.hacienda.go.cr ). From an economic standpoint, it is almost always best to purchase a used vehicle in Costa Rica. The 5% withholding applies when the loan has a duration of at least five years. It can cost $1,000 or less if you’re shipping from a nearby port in the U.S., such as Miami. Regarding taxes, note that Costa Rica has several laws covering the importation of used items and if you want to ship new items due so outside of the original packing to make it seem used. Secondly, there is a luxury item tax paid. For individuals domiciled in Costa Rica, any income obtained within the boundaries of Costa Rica is considered as Costa Rican-source income and is taxable. It doesn’t matter which car the country is originally from, they will just put an extra stamp on your passport for your car. You can calculate your car’s value For vehicles between one and five years old, the rate is 52%. Reliable shipping companies will arrange everything in advance: shipping schedule, import duties, vehicle registration, etc. Vehicle’s Appraised Value (VCAV): This is the sum of the market value, freight and freight insurance. These duties are shockingly high. There are a number of taxes due when a vehicle is imported into Costa Rica: 1. Obtaining the permanent metal license plates may take up to one year. Income taxes on individuals in Costa Rica are levied on local income irrespective of nationality and resident status. The fist two situations will have to pay import duty. In November of 2018, President Carlos Alvarado signed an executive decree for Used Electric Vehicles, which was based on the law passed early in 2018 regarding new electric vehicles. The car can be driven in Costa Rica for up to 6 months, then it must be nationalized or leave the country. Tax didn’t apply to several types of tourism services, including adventure and nature tours, shuttle services, and car rentals. In addition to the $1000+ freight cost to ship your foreign car, the Costa Rican government taxes all imported vehicles 45%-85%. Budget Car Rental has created a new used cars sales program called Cerostress, which gives our clients the support of a company with over 30 years of experience in the market. 79.03% – Cars 6 and More Years Old – … 1. Import taxes vary by vehicle and are calculated as the following: All vehicles more than ten years old are required to undergo an annual technical inspection, known as Riteve (newer cars must do this once every two years). In addition to the $1000+ freight cost to ship your foreign car, the Costa Rican government taxes all imported vehicles 45%-85%. The top import origins of Costa Rica are the United States, China, Mexico, Guatemala, and Japan. Click here, used car buying assistance in Costa Rica for details. This information is provided as a guide Only and in no way constitutes a quote. Am I correct? Helping expats locate reliable used vehicles since 2006. In that case you will have to talk to a qualified customs broker. Consumption Tax (Impuesto Selectivo de Consumo) 3. The 5% withholding applies when the beneficiary directly has at least 20% of the shareholder’s equity of the paying company. Since no autos are manufactured in Costa Rica, this is not a protectionist tax and vehicles were not included in exemptions brought about by the CAFTA agreement. For example, the VCAV of a vehicle valued at $10,000 would be $10,877. Buying or importing a car in Costa Rica is much more expensive in Costa Rica than several other countries. Transporting a car to Costa Rica from the U.S. is fairly simple and affordable compared to other international destinations. You would need a customs broker in order to bring the car here, they can tell you what documents you need. Note. Costa Rica periodically reduces the applied tariff on rough rice and beans to meet local demand. Costa Rica periodically reduces the applied tariff on rough rice and beans to meet local demand. Due to heavy taxes, purchasing a new vehicle in Costa Rica is significantly more expensive than in North America and Europe, so some expats choose to import their own cars from back home. Note that in most cases, importing a new or used vehicle will cost about the same – if not more – than buying a similar car in Costa Rica. This process may take several days. Besides the great business this gives to agencies that import cars, the tax revenue that the Tax Administration receives, and the permanent benefit to banks that finance car purchases, there are others who win, too. Duties on imported capital goods and most finished products are one percent and 15 percent, respectively. Freight insurance is the cost to insure the vehicle or, if no insurance was purchased, this value is calculated 1.5% of the combined sum of market value + freight, multiplied by 110. As covered in this article, “Bringing a Car to Costa Rica,” importing a car from the U.S., while relatively easy, can be quite expensive. Thank you. In addition, the cost of shipping plus shipping insurance The objective of the taxes is two fold, sales tax is collected at this time, rather than at the time of resale by the importer. Posted by Russ Martin February 18, 2020 June 19, 2020 Posted in General Information on Vehicles in Costa Rica and Driving Tags: car buying process , vehicle registration Leave a comment on Importing a Car to Costa Rica vs. Buying a Vehicle Here For an import duty calculation tool provided by … Costa Rica periodically reduces the applied tariff on rough rice and beans to meet local demand. Costa Rica Import Regulation: Importing a Motor Vehicle In Costa Rica: Many of you would like to bring their own vehicle because it’s such a great one, you’ve just bought it or because it has some kind of personal value to it. Understand that the import taxes on Costa Rica vehicle imports tend to be higher than those charged by other countries. It specifically mentions automobiles, motorcycles, cargo vehicles, minivans and buses. It is also possible to check the vehicle history through the VIN number to verify previous accidents. This article explains the reasoning behind the high import duties, as well as some exceptions, including updated information on environmentally friendly taxes. If you would like to see information about other vehicle types and models, click here — Vehicle Makes and Models in Costa Rica — for a list of articles on our site. The total amount of tax is calculated according to various factors pertaining to the vehicle. Every person entering Costa Rica is allowed to import $500 worth of goods (new or used) free of import duties once every 6 months. In this article Jim Bickford shares his personal experience of shipping, importing and titiling his Toyota Prius into Costa Rica. The decree established that the following vehicles could pay less: Electric, Compressed Air, and Hydrogen – the decree established 0% tax rate on these vehicles. Motorcycles also pay fairly high taxes, with the rates being as follows: In 2006 the executive branch decreed that certain energy efficient vehicles could pay less luxury tax and import duties. According to a 2005 executive decree, 32458-H, the value of the calculation must be the higher of the receipt for purchase presented by the importer, or the value of the vehicle contained in the data base of the Tax Ministry (at CARTICA/AUTOVALOR linked to from the home page of the ministry web site). For vehicles 3 years or newer, the taxed percentage is 52.29% For vehicles 4-5 years old, the taxed percentage is 63.91% Several companies also offer a complete vehicle package, including purchasing a U.S. vehicle, shipping it to Costa Rica, and paying import duties on your behalf. Tax Ministry Vehicle Values is the website where you can find the value of the vehicles for tax purposes.
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