What is the VRT rate for a 211 BMW X3 xLine xDrive20d? Let's say if I put in a factory order now and the car arrives in the middle of January, will I be charged under the new VRT rate?
Filed under VRT - Asked by John Z (Dublin) - Thu, 15 Oct 2020 08:03
First of all, the VRT applies on the date of registration, so it doesn't matter when the order is placed. If you register a car after 1 January 2021 then it will be subject to the new VRT rates.
Now, BMW has not published its new pricing so we're going to have to do some estimating based on the current advertised price on the BMW Ireland website. To do that I am also assuming that the displayed value of the BMW X3 xDrive20d xLine, €57,859, is at the 21 per cent VAT rate introduced last month.
The NOx figure for that car is not readily available, but a bit of digging suggests it should be about 100mg/km, so the NOx levy right now, within that price, should be €1,085.
So, the price of the car including VAT and VRT, but without the NOx levy is €56,774.
According to BMW, the NEDC CO2 rating is 126g/km, which would mean 18 per cent VRT on the old system.
So, the VRT was €56,774 x 0.18 = €10,219, which makes the price of the car including VAT at €46,555.
So now we have the core cost of the car and can work on a 2021 price estimate.
We need the WLTP CO2 rating, but can't find it for that car. So let's apply the government's own 'uplifting' formula for diesel cars' NEDC CO2 rating: WLTP CO2 rating = (126g/km x 1.1405) + 12.858 = 157g/km.
That places it in the new Band 18 for VRT (see our How Much VRT is Paid in Ireland? feature), at a rate of 26 per cent.
So the estimated cost of the car including VAT and VRT is €46,555 ÷ 0.74 = €62,912.
The NOx levy calculation has changed a little as well. It works out as €1,300 for this car from 1 January 2021 (if the 100mg/km figure for its NOx is correct).
Hence, the estimated total retail cost of the car is €64,212 as of 2021.
Disclaimer: All of these figures should be taken as estimates only. We have rounded off to Euros throughout and who knows how BMW will adjust its pricing to suit the market rather than just calculate the new tax?