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VRT On Motor Vehicle

Motor industry calls for €2k VRT cut to help car buyers

By Suzanne Swan – 12/11/15

A recent article by Eddie Cunningham in the highlights VRT on motor vehicles with a call from the Society of the Irish Motor Industry (SIMI) for a €2,000 reduction in Vehicle Registration Tax (VRT) to help buyers of older cars to buy new.

VRT on motor vehicles

The Government is being called on today to cut the price of a new car by €2,000 where the vehicle traded against it is six years or older.

The SIMI says the €2,000 VRT rebate in such a ‘Swappage Scheme’ would help create 2,200 jobs because an 17,000 additional cars would be sold.

And the extra sales would generate €129m extra in taxes for the Exchequer, SIMI says in its Budget submission.

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