Thursday, July 04, 2013

Thousands of euro can be recouped on exported cars

Fine Gael Meath East TD, Regina Doherty, has today (Thursday) highlighted the fact that car owners are entitled to claim back VRT if their vehicle is exported overseas. The information was contained in documents prepared for the Finance Committee, of which Deputy Doherty is a new member. 

“Many people may be unaware of the existence of this scheme, which is operated by the Revenue Commissioners. It allows for the repayment of Vehicle Registration Tax (VRT) after a car has been exported out of the country. This can amount to several thousand euro in some cases. 

“The scheme applies to cars registered in Ireland with a selling price of €2,000 or more and a valid NCT certificate. The car must be examined before it is exported, and then removed from the State within 30 days. Once the owner can prove the car has been registered in another EU country or permanently exported further afield, the VRT paid on that vehicle can be claimed back, minus an administration charge of €500. 

“The scheme has only been in place since April of this year, and early indications suggest that take-up has been low so far. To date, 335 vehicles were presented for pre-export examination and 21 payments totalling €128,681 were approved. That’s an average of more than €6,000 per vehicle. The repayments were primarily paid to vehicles exported to the UK.

“In my view, many people could stand to benefit from this scheme; whether they have sold their car in the UK, or perhaps moved to another European country and taken their vehicle with them. It is important that people are aware of this scheme in advance, as VRT can only be reclaimed if vehicles are presented for examination before exporting. 

“I am delighted to have been co-opted onto the Finance Committee, not least because there are very few female representatives on it. I look forward to discussing and examining a range of issues under the Committee’s remit in the coming months.”

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