How frequenty does the Revenue update OMV for VRT?

M

muffinsda

Registered User
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I know there's a big change due in the next budget for VRT and all that, but aside from that: how often the Open Market Value of cars are updated in the revenue's database? Surely cars are a constantly depreciating asset, how is that reflected in their lists? And also, is there a big change at the beginning of each year (as that is when the cars lose their value most: being perceived as a year older and all that).
 
To be fair it's a very specific question that not very many people would know the answer to. You'd get a better answer over on the motors forum on boards.

But, from the little I know, the revenue deliberately don't either set a date or tell people when it is. Anyway SIMI supply the OMSP for cars to the Revenue. Revenue also look at the number of page views by car type on their VRT calculation page to see if they should revalue a specific car or model.
 
As soon as they see activity on their web calculator or notice an increase in a particular vehicle being imported and vrt'd they hike up the OMSP on the basis that their valuation is obviously too cheap and seen to be encouraging the natives. Perhaps I am too cynical
 
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