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HomeBusinessWhat is VRT Statistical Code? - How is it Calculated

What is VRT Statistical Code? – How is it Calculated

VRT, or “Vehicle Registration Tax,” is levied on motor vehicle registration in the Republic of Ireland. Any motor vehicle in the state, except those brought in temporarily by tourists, must be registered with the Revenue Commissioners and VRT charged after it arrives by the end of the next working day. 

Before a vehicle can be approved for road tax purposes, it must be registered. The VRT Calculator uses a vehicle’s registration number to calculate the Make, Model, and Variant, as well as the vehicle’s first date of registration and CO2 emissions. 

It uses this data to measure the Open Market Selling Price (OMSP) for VRT purposes and the quantity of VRT payable. Please keep in mind that specific vehicle Makes / Models / CO2 Emissions are not included. 

Vehicle Registration Tax (VRT) is a tax that must be paid when registering a motor vehicle in Ireland for the first time. VRT is calculated using the vehicle’s Open Market Selling Price (OMSP). The vehicle’s market value determines the OMSP, engine capacity, year, model, and roadworthiness condition.

Usually, the following types of vehicles are included:

Category A: Passenger vehicles like Saloons, Hatchbacks, MPVs, Jeeps, Coupes, Convertibles, etc. These are primarily European category M1 vehicles, but they may also include some category N1 vehicles with four or more seats. In general, the VRT due is the OMSP multiplied by the VRT rate, while minimum values apply.

Category B:  Include car-derived vans, jeep-derived vans, and crew cabs. Classic collectibles, motor caravans (campers), kit vehicles, and vehicles that must be tested on an individual basis are usually excluded. These vehicles are classified as European category N1 and typically have three or fewer seats. The VRT is generally 13.3 percent of the OMSP, with a €125 minimum due.

Category C: Commercial vehicles are not included in the calculator, but VRT is charged at a flat rate of €50.00 on these vehicles. European category N2 vehicles (over 3.5 tonnes and under 12 tonnes in weight), N3 vehicles (over 12 tonnes in weight), M2 vehicles (under 5 tonnes in weight, with a minimum of 10 seats including the driver’s seat), and M3 vehicles (over 5 tonnes in weight, with a minimum of 10 seats including the driver’s seat) are among these vehicles.

Please keep in mind that this calculator cannot be used for the following purposes:

    • Models that have not previously been presented for valuation.

    • Models that necessitate extensive research to value Motorhomes, classic and collectible cars, and some luxury marquees are examples.

    • Large commercial vehicles, agricultural tractors, buses, and other large vehicles are subject to a fixed VRT fee.

    • Value-added taxation (VAT) on new modes of transportation. Most motor vehicles are considered new for VAT purposes if they are less than six months old or have traveled less than 6,000km.

    • The Revenue Commissioners launched an online VRT calculator a few years ago to calculate the Open Market Selling Price (OMSP) and VRT for every car or motorcycle imported into Ireland. Anyone may use the service to shop for a car in the UK and calculate the taxes owed without leaving their computer.

The Revenue Commissioners launched an online VRT calculator a few years ago to calculate the Open Market Selling Price (OMSP) and VRT for every car or motorcycle imported into Ireland. Anyone may use the service to shop for a car in the UK and calculate the taxes owed without leaving their computer.

 

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