VRT and Import rules

kowloon

Could anyone fill me in on the rules for the VRT import exemption for brining a bike home from England?
Was thinking of buying something for over here and flogging it when I get home. Do you have to own it for 6 months before thew VRT exemption or is it a year?

Dorsanty

Shows rules for VRT + VAT (VAT exempt only if bike is older then 6months and over 6000km on clock).
http://www.citizensinformation.ie/categories/moving-country/moving-to-ireland/coming-to-live-in-ireland/importing_car_into_ireland

Shows a what you need to register in Ireland or take back with you from UK
http://www.revenue.ie/en/tax/vrt/purchasing-a-used-car-abroad.htm

All important government milking calculator
https://www.ros.ie/VRTEnquiryServlet/showBikeCalculator

And Happy Paddy's Day to all :-)

Altreab

Dorsanty wrote: »

Shows rules for VRT + VAT (VAT exempt only if bike is older then 6months and over 6000km on clock).
http://www.citizensinformation.ie/categories/moving-country/moving-to-ireland/coming-to-live-in-ireland/importing_car_into_ireland

Shows a what you need to register in Ireland or take back with you from UK
http://www.revenue.ie/en/tax/vrt/purchasing-a-used-car-abroad.htm

All important government milking calculator
https://www.ros.ie/VRTEnquiryServlet/showBikeCalculator

And Happy Paddy's Day to all :-)

How will the Irish part of the VAT be calculated on a car less than 6 months old? Will it be the invoice price or on the OMSP?

For example Car bought in UK for €11750. UK VAT = €1750 which means Invoice price is €10,000. Will the VAT to be paid in Ireland be €2100 - €1750 = €350

OR

OMSP (including VRT) of the car here is €15,000 which gives an Irish VAT content of (€15,000-(€15000/1.21) = €2603

VAT payable in Ireland = €2603 - €1750 = €853

OR

Just charge the FULL OMSP Vat on top of whatever has been paid in the UK? :eek:

As can be seen there is a massive differance in the amount to be paid.