VRT on new cars

Walker34

How is VRT calculated on new cars......every dealer I speak to seems to have a different version.....its based on OMV, its based on emissions..Is there a formula for working it out.

R.O.R

Walker34 wrote: »

How is VRT calculated on new cars......every dealer I speak to seems to have a different version.....its based on OMV, its based on emissions..Is there a formula for working it out.

Yes:

Take the full, declared retail cost of the car.

Take an unspecified discount (normally 8%, but varies by make/model sometimes) off the retail cost of the car - this is the OMV used by revenue for calculating the VRT.

VRT rate is dependant on the CO2 emissions of the car, which gives the % (between 14% and 36%).

The OMV includes VAT and VRT, so you then have to take off the VAT to figure out the VRT amount.

I do have a spreadsheet somewhere with all the calulations on, but can't find it just at the moment.

Is there a particular car you need this info for?

si_guru

There is a calculator here:

http://www.vrt.ie/vrtDetail.php?page=14

It has all most new cars in the drop down "quick calculator".

Walker34

Thanks for the info folks

Found this in Revenue

CO2 G/KM

0-120G.......................14% of OMSP(open market sale price)
>120 to 140g...............16%
>140 to 155g...............20%
>155 to 170g...............24%
>170 to 190g...............28%
>190 to 225g...............32%
>225..........................36%

For light commercial vehicles vrt is 13.3

heate

R.O.R wrote: »

Walker34 wrote: »

How is VRT calculated on new cars......every dealer I speak to seems to have a different version.....its based on OMV, its based on emissions..Is there a formula for working it out.

Yes:

Take the full, declared retail cost of the car.

Take an unspecified discount (normally 8%, but varies by make/model sometimes) off the retail cost of the car - this is the OMV used by revenue for calculating the VRT.

VRT rate is dependant on the CO2 emissions of the car, which gives the % (between 14% and 36%).

The OMV includes VAT and VRT, so you then have to take off the VAT to figure out the VRT amount.

I do have a spreadsheet somewhere with all the calulations on, but can't find it just at the moment.

Is there a particular car you need this info for?

ASAIK vat is not charged on the vrt element vrt is a simple calculation.
OMSP x.92 x vrt rate (14-36%) = vrt
Price of car without taxes is OMSP x.92 x vrt rate / 1.21

R.O.R

heate wrote: »

ASAIK vat is not charged on the vrt element vrt is a simple calculation.
OMSP x.92 x vrt rate (14-36%) = vrt
Price of car without taxes is OMSP x.92 x vrt rate / 1.21

You may well be correct - it's been a while since I had to work it out, and always get confused which has to come off first.

I do have the breakdown from a couple of manufacturer's, but that's top secret info.....:pac:

Walker34

heate wrote: »

ASAIK vat is not charged on the vrt element vrt is a simple calculation.
OMSP x.92 x vrt rate (14-36%) = vrt
Price of car without taxes is OMSP x.92 x vrt rate / 1.21

Whats the chances of you finding the spreadsheet this week Heat, Id love to see it. I was told that VRT is deducted first and then VAT @ 21% on the remainder to find the cost less Vat and VRT on a new vehicle........that was for a disabled person who needs a modded vehicle.