Explain how VRT works on extras...
Can you explain how VRT is calculated on optional extras on an imported car? I understand there is a sliding scale depending on age of car. For example what is the additional VRT on a 2017 BMW 520 with €10,000 extras?
William Neale (Dublin)Jan 2019 Filed under: VRT
Expert answer
Hi William,
Sadly, the short answer is “it depends…” You’re right in that there’s a sliding scale of the VRT charge levied on optional extras, and it rolls back according to the age of the car. VRT is charged on optional extras according to the car’s CO2 emissions, so for a 2017 BMW 520d (I’m assuming it’s the current-shape G30 model) that’ll be 17 per cent for a car with CO2 emissions of 114g/km. As the car is less than two years old (again, I’m guessing it was made and registered after January 2017) there’s a 25 per cent discount for the depreciation of the original market value of those extras. The ‘it depends’ bit comes in because it depends which extras those were. It’s not enough to say that there are €10,000 worth of extras on it, because Revenue will calculate the original Irish market cost of those extras, item by item, and then apply the VRT accordingly.
Neil Briscoe - Complete Car Advisor@neilmbriscoe