New VRT rates.

K

kane3000

Registered User
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47
Hi All,

Does anyone know if VRT rates will be adjusted in the budget this week?

Thanks
Kane
 
ur guess is as good as anyone elses. Personally I would doubt it.
 
I was on the revenue on line VRT calculator site earlier this week. VRT is not calculated on the price paid for the car, but on what is called the open market value. This is decided by the SIMI. One thing bothers me is that this price would already include VRT and VAT, so in effect VRT is being calculated at a value greatly in excess of what is should be.
Explanations very welcome, or letters to your local government TD for one might help.
 
its a rip off pure and simple. totally anti competitive, totally anti eu, totally anti free movement of goods, and this from a government who were going to have the nerve to ask us to ratify that dead in the water eu constitution, before the french gave them a get out of jail card. free.
 
Shrek31 said:
I was on the revenue on line VRT calculator site earlier this week. VRT is not calculated on the price paid for the car, but on what is called the open market value. This is decided by the SIMI. One thing bothers me is that this price would already include VRT and VAT, so in effect VRT is being calculated at a value greatly in excess of what is should be.
Explanations very welcome, or letters to your local government TD for one might help.
Click to expand...

SIMI have no input to those values.
 
SIMI is the representative body for the distributors and dealers.

I was on the phone to SIMI last week asking for an OMSP of a car and getting it too; they hold all the OMSPs, all the VRT statistical codes. If Revenue Commissioners have a query on a newly presented second-hand car they go to SIMI.

When Bertie devised this scheme he had to get the co-operation of SIMI as VRT relies on them to supply the OMSP.
Without SIMI there would be no VRT. There would be no closed Irish market for new and secondhand cars. We would be able to go to UK or N. Ireland and get cars thousands of Euro cheaper.
 
beauty of VRT is that even with a low OMSP it is uneconomic to import from abroad. They'll say OMSP is a low value which seems reasonable but when you add 22.5, 25 or 30% of OMSP to the purchase price of your car from abroad it is uneconomic to import secondhand.
 
Dipole said:
SIMI is the representative body for the distributors and dealers. Yep.

I was on the phone to SIMI last week asking for an OMSP of a car and getting it too; they hold all the OMSPs, all the VRT statistical codes. If Revenue Commissioners have a query on a newly presented second-hand car they go to SIMI. Yes to the 1st part and no to the 2nd. They guess a figure.
When Bertie devised this scheme he had to get the co-operation of SIMI as VRT relies on them to supply the OMSP. With respect, what choice had they?
Without SIMI there would be no VRT. There would be no closed Irish market for new and secondhand cars. We would be able to go to UK or N. Ireland and get cars thousands of Euro cheaper. You still can even with VRT
Click to expand...

I'm no fan of SIMI nor punative taxes, but SIMI make a pre budget submission each and every year complianing about the rates and inequity of VRT. Their sole role is collecting it and passing in on.
 
OMSP is retail price - 10% and del charges and dealer charges. They set a high RRP and del charge and dealer charge - they went along with this calculation and happily disclosed it.
If they elected to be as unhelpful as possible then VRT would have been unworkable.
At the time the government was in a bind - duties could not be levied for European car imports as they were illegal. SIMI stepped in and gave the Government an option.

There is no way that I could import a car similiar to mine from the UK without it costing more than sourcing one locally, if I could find one locally. Once VRT is applied it will always be more expensive.

If you appeal their guess-timate valuation then they have to get a valuation at first hand - this means go to SIMI, get OMSP apply a depreciation scale to it and get a final depreciated OMSP.

Cyril McHugh spouts hot air prior to every budget. Cyril McHugh is a former civil servant. Every year he want's a more favourable budget for his members, he is not looking for better value for the consumer.
 
The value is there for used uk imports. Massive choice of excellent cars, used on superior roads (less wear).

Perhaps you know a bit better than I about the cosy relationship between the gov't and SIMI, I'll assume you do, but what other choice did dealers have when VRT was introduced? They need to sell units, end of.
 
If a secondhand dealer starts looking to import specific cars the Revenue Commissioners start tweaking VRt valuations of the car to make it unprofitable to continue importing the car they have started to source abroad.
Look at the VRT charge on a Nissan March from Japan and a similiar Nissan Micra on ROS.ie for an example of what I'm talking about.
 
Jap. imports are different. 10% customs duty applies (sourced outside of EU).

3 year old uk cars make sound purchases if you can get a good one, even allowing for VRT .
 
No VRT rate is seperate from Duty and VAT which are payable too.
 
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