Luxury vehicles, such as Ferraris, Lamborghinis, Aston Martins and Bentleys, feature in the list of vehicles issued a refund under the VRT Export Repayment Scheme, website Cartell.ie has reported.
So far in 2015 there have been 3,284 vehicles exported out of the state. Of those vehicles 556 (or 17 per cent ) had Vehicle Registration Tax refunded by the Government. Refund of VRT for exported vehicles is based on the VRT Export Repayment Scheme, which allows for the repayment of “residual” VRT on passenger vehicles permanently exported from the state. The scheme commenced in 2013.
In total nearly 4,474 vehicles were exported out of Ireland in 2014. Of those vehicles 968 (or 22 per cent ) had Vehicle Registration Tax refunded.
Luxury marques feature significantly in the list of vehicles issued a refund under the VRT Export Repayment Scheme since its commencement in 2013, including Ferrari (12 ), Lamborghini (2 ), Aston Martin (12 ), Bentley (13 ), and Porsche (32 ).
The average engine capacity of an exported vehicle under the scheme is 2,951cc.
So far VRT refunds under the scheme have been issued for 1,886 vehicles since it commenced in 2013.
John Byrne, legal and PR manager at Cartell.ie, says: “Owners of vehicles from manufacturers like Ferrari and Aston Martin may see the VRT export repayment scheme as a win-win: they get a refund on residual VRT, which may be significant for a top-end car, and they also get to find a buyer for their vehicle in the larger UK market.”
In a separate study Cartell found that more than one-in-10 imported vehicles from the UK were written-off in the UK. So, while a lot of quality cars are leaving Ireland, consumers are advised to check the history of UK cars before importing.