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Effect of VRT Relief on EV's priced below €45,000

Paul Kiernan · 2023-04-01 10:24:21

In the light of the recent Tesla price cuts and discounts I've been looking at how VRT reduces as price drops bring these cars into the VRT relief zone (OMSP below 50k). I'm not sure if this is 100% correct but it seems that - Example 1 - Car Retails at €45,000 so OMSP (before grant) is €50,000; VRT is €3,500 and VAT is…

01-04-2023 11:24am

#1

Paul Kiernan

Registered Users, Registered Users 2 Posts: 2,191 ✭✭✭

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Posts: 2046

In the light of the recent Tesla price cuts and discounts I've been looking at how VRT reduces as price drops bring these cars into the VRT relief zone (OMSP below 50k).
I'm not sure if this is 100% correct but it seems that -
Example 1 -
Car Retails at €45,000 so OMSP (before grant) is €50,000; VRT is €3,500 and VAT is 50,000 x 23/123 = €9,350 - Total = €12,850
Example 2 -
Car Retails at €39,000 so OMSP (before grant) is €44,000; VRT is €80 and VAT is 44,000 x 23/123 = €8,228 - Total = €8,308
A whopping tax saving of over €4.5k.
So the manufacturer only has to reduce their price by under €1,500 and retail price drops by €6,000.

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