OMSP: how Revenue decides your VRT, and why your price does not matter

The formula

Vehicle Registration Tax on a passenger car is a percentage of its Open Market Selling Price, with the percentage set by the CO2 band: 7% for the lowest emitters rising in steps to 41% above 190 g/km, and a minimum charge of €280. The NOx levy is added separately.

The OMSP is Revenue’s opinion of the price the car would fetch on the open market in Ireland, as a retail sale including taxes, on the day it is registered. It is not the auction price, not the price plus shipping, and not what a dealer would give you for it.

How Revenue arrives at the number

Every make, model and variant that Revenue has met before has a statistical code with a value for a new example, and a depreciation schedule by age. Mileage adjusts the figure up or down from the norm for the age. The inspector at the NCTS applies this to the car in front of them; condition matters less than people hope.

For a model Revenue has not met, or a Japan-only variant of one it has, the value is assessed by reference to the nearest equivalent or from market evidence. That is where estimates go wrong most often, and it is one of the points we are confirming with Revenue for the models on this site (V6).

Estimating it before you buy

Start with Irish-registered examples of the same model, year and mileage on the classifieds: dealer asking prices are close to what Revenue means by open market selling price. Take the middle of the cluster, not the cheapest ad.

For models sold new here, Revenue’s own VRT calculator on ROS gives the assessed figure for a listed variant once you have the statistical code. For Japan-only models it will not list the car; use the nearest Irish-market equivalent and widen your range.

Then tell the calculator how sure you are. The confidence setting widens or narrows the estimate range: 5% of the VRT for a value you have checked against comparables, 12% for a reasonable guess, 25% for a rough one. The range is the honest answer.

Why a low purchase price can hurt

Two identical cars pay the same VRT whether one cost half as much at auction. A bargain in Japan does not reduce the tax; it only widens your saving. The reverse is also true: a car that is dear in Japan because it is rare will usually be dear in Revenue’s eyes too.

Where this bites hardest is the high bands. On a petrol Alphard in the 41% band, every €1,000 of OMSP is €410 of VRT, so a value assessed €5,000 above your estimate costs €2,050 more at the NCTS. The model pages show the sensitivity.

If the assessment is wrong

You pay the assessed amount to register the car; the appeal comes after. Revenue operates a two-stage appeals process for VRT, starting with the office that dealt with the registration, and a professional valuation of the car as registered is the evidence that carries weight. Time limits run from the registration date; confirm the current limit with Revenue before you rely on it (V6).

Keep every document from the purchase and inspection. An appeal on a Japan-only model is where an independent valuation from an Irish dealer who sells the model earns its fee.