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The average price of a new car soared by nearly €4,500 to €38,665 this year, rising 13pc.And nearly one-third of that went to the taxman in VRT and Vat payments. The average amount of Vat levied on a car came to €5,905 while VRT amounted to €5,851, according to new figures, obtained from the Society of the Irish Motor Industry (SIMI) by the Irish Independent. Overall that means almost €12,000 – or nearly one-third of the price of an average new car – went to the taxman. In total, new-car buyers paid €514,415,180 in Vat, while the VRT bill came to €509,661,031. That leaves the Exchequer benefitting from more than €1bn from new-car sales alone up to the end of July. The vast majority of cars are bought in the first seven months of the year as they embrace two registration periods starting in January and July.<snip>
Average price of a new car in Ireland soared by €4,500 with a third of the cost going to Vat and VRTQuoteThe average price of a new car soared by nearly €4,500 to €38,665 this year, rising 13pc.And nearly one-third of that went to the taxman in VRT and Vat payments. The average amount of Vat levied on a car came to €5,905 while VRT amounted to €5,851, according to new figures, obtained from the Society of the Irish Motor Industry (SIMI) by the Irish Independent. Overall that means almost €12,000 – or nearly one-third of the price of an average new car – went to the taxman. In total, new-car buyers paid €514,415,180 in Vat, while the VRT bill came to €509,661,031. That leaves the Exchequer benefitting from more than €1bn from new-car sales alone up to the end of July. The vast majority of cars are bought in the first seven months of the year as they embrace two registration periods starting in January and July.<snip>
