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value vrt should be based on

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  • 25-06-2008 12:56pm
    #1
    colorc
    Closed Accounts Posts: 54 ✭✭


    I purchased a car in the north for €25,000 and I am now going to pay the vrt on it however the vrt is 25% of the Value of the car which the website states is €37,000.....??? What figure will the vrt be based on 25k or 37k???


Comments

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    #2
    NewApproach
    Registered Users Posts: 2,188 ✭✭✭NewApproach


    37k dont ya know!!!

    Thats the VRT for ya!


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    #3
    listermint
    Registered Users Posts: 33,972 ✭✭✭✭listermint


    Was that really a serious question? thats a serious amount of money to shell out without prior research:rolleyes:


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    #4
    Gandalf23
    Closed Accounts Posts: 1,643 ✭✭✭Gandalf23


    OP you might need to ask that question again in a clearer way.

    You purchased the car for €25. The website value of the car is €37. Is the new value of the car?

    More (and clearer) info please.


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    #5
    listermint
    Registered Users Posts: 33,972 ✭✭✭✭listermint


    Gandalf23 wrote: »
    OP you might need to ask that question again in a clearer way.

    You purchased the car for €25. The website value of the car is €37. Is the new value of the car?

    More (and clearer) info please.

    i think he means the vro site states 37K


  • Options
    #6
    bazz26
    Registered Users Posts: 51,244 ✭✭✭✭bazz26


    OP, it doesn't matter what you paid for the car, VRT is based as a percentage of what Revenue value a similar car to be worth in Ireland, i.e. the Original Market Selling Price (OMSP).

    So if your car is valued by Revenue at €37k in Ireland then the VRT price will be calculated as a percentage of that price depending on what VRT bracket it falls under.


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  • Options
    #7
    Zube
    Closed Accounts Posts: 1,502 ✭✭✭Zube


    €37K x 0.25 = €9.25K

    €25K + €9.25K = €34.25K.

    Well done, you got a €37K car for €34.25K.


  • Options
    #8
    colorc
    Closed Accounts Posts: 54 ✭✭colorc


    Cheers for clearing that up for me bazz, I was assuming that was the case alright but I just heard somewhere that one can dispute the OMSP the revenue have placed on the car??


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    #9
    colorc
    Closed Accounts Posts: 54 ✭✭colorc


    Zube wrote: »
    €37K x 0.25 = €9.25K

    €25K + €9.25K = €34.25K.

    Well done, you got a €37K car for €34.25K.

    Yeah I know made a nice saving didn't I.... the sterling/Euro exchange rate was in my favour at the time!!!


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    #10
    Stevie Dakota
    Closed Accounts Posts: 2,817 ✭✭✭Stevie Dakota


    Not wishing to rain on you parade but assuming you have paid cash I would be surprised if you couldn't have got it for very near the same here, cash is King right now.


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    #11
    colorc
    Closed Accounts Posts: 54 ✭✭colorc


    Stevie Dakota wrote: »
    Not wishing to rain on you parade but assuming you have paid cash I would be surprised if you couldn't have got it for very near the same here, cash is King right now.

    Thankfully not yet they are ranging from 39 to 46k here....so I bought at the right time I reckon!!


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    #12
    Stevie Dakota
    Closed Accounts Posts: 2,817 ✭✭✭Stevie Dakota


    Glad to hear it, enjoy!


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    #13
    Guy:Incognito
    Registered Users Posts: 38,247 ✭✭✭✭Guy:Incognito


    It would be a bit stupid of them baseign it on the price you paid for it. Everyone would just get a receipt saying they paid half of what they actually did.


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    #14
    Esel
    Registered Users Posts: 22,317 ✭✭✭✭Esel


    bazz26 wrote: »
    ..... i.e. the Original Market Selling Price (OMSP).
    OMSP stands for Open Market Selling Price.

    Not your ornery onager



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    #15
    bazz26
    Registered Users Posts: 51,244 ✭✭✭✭bazz26


    esel wrote: »
    OMSP stands for Open Market Selling Price.

    I stand corrected. :)


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