Is this VRT calculation correct on a Maserati from the North?
The question
If the car from Northern Ireland is €15,000 and I have to pay 41 per cent open market value in VRT, that makes it €21,000 - is that correct?
Thanks very much
Asked by Gerrit Van der vegt ·
Expert answer
Hi Gerrit,
Unfortunately, that's not likely to be correct. The Open Market Selling Price (OMSP) is something that Revenue in Ireland come up with, based on what they believe the car to be worth in Ireland. It rarely is directly related to the amount you pay for the car in the North.
You'll need to take a look around the Irish classifieds to see if you can find similar cars for sale already registered in Ireland. That will give you a rough approximation of the OMSP. Then you apply the 41 per cent to that. Even so, Revenue's figure might be dramatically different - especially on such a rare car.
Answered by Shane O' Donoghue