Revenue Look For New Way To Value Vehicles For VRT

HPT

Came across this today on the Etenders site.

Request for Information relating to the valuation of used vehicles

Please not that this is not a call for competition but a request for information from the market.
Vehicle Registration Tax (VRT) is charged on the Open Market Selling Price (OMSP) of a vehicle. The OMSP is the price, inclusive of all taxes and duties, which, in the opinion of the Revenue Commissioners, the vehicle might reasonably be expected to fetch on a first arm’s length sale thereof in the State by retail.
In forming an opinion of the OMSP, Revenue has devised a valuation process which is predicated on the principle that each vehicle brought into the State and presented for registration, other than vehicles supplied by the sole wholesale distributors in the State, is taxed based on the value that that vehicle would have, if it had been registered when new within the State, following supply by the sole wholesale distributor. This principle is essential in that the valuation of used vehicles brought into the State should not be so low as to disadvantage the normal sale of similar or equivalent used vehicles already registered in the State. Equally, the valuation should not be so high as to “protect” Irish vehicles against their equivalent imports. At present, this valuation process is manual and resource intensive.
The Revenue Commissioners now require a new efficient, automated valuation system that, while retaining the advantages of the current system, can provide an accurate valuation of vehicles in a more efficient way.
In order to achieve the optimum result, Revenue is looking for information about more efficient processes, better and/or electronic data sources and possibly automated processes that can be integrated into Revenue’s Information and Communications Technology infrastructure. This information will inform the Commissioners in defining a set of requirements that may form the basis of a tender process.

Source: http://www.etenders.gov.ie/search/show/Search_View.aspx?id=JAN195076

Seems like more of a time saver but it could make things more accurate. Probably more rigid too.

Henry Ford III

Sounds like too many successful appeals.

iphone4g

You can be sure Revenue won't lose out

mickdw

They will now spend a fortune on some new computer setup when really, they need to introduce a common sense appeals process that allows a reduced payment until outcome of appeal is decided

bazz26

Revenu look for a new way to value vehiles for VRT shaft us.