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How much VRT on a 2008 Lexus IS F?
How much would the vrt be on a early 2008 lexus ISF around 60,000km imported from Japan cars are coming in landed around 18k after vat and shipping. Market seems very overpriced in Ireland considering the most expensive for sale was a write off repaired.
Our answer:
Hi Nathan,
It doesn't matter if you or I think the IS F is overpriced here, as for the purposes of VRT all that matters is what Revenue believes the car is worth - the so-called Open Market Selling Price (OMSP). It's very difficult to accurately estimate what the OMSP will be on such a rare car. You'll be paying 41 per cent of the OMSP in VRT anyway.
At your €18,000 estimate, that would mean VRT of €7,380, but I suspect it'll be valued much higher. If it's €40,000, then your VRT bill will be €16,400, for example. I'd expect somewhere in the middle, but closer to the higher figure unfortunately.
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