VRT & valuation · 20 July 2026
OMSP: The Irish Market Value That Decides Your VRT Bill
OMSP (Open Market Selling Price) is Revenue's estimate of what your car would sell for on the Irish market today, and it is the exact figure your VRT bill is calculated on — not the price you paid abroad. If you import a car from the UK, this is the number that catches people off guard at the NCTS centre: you budget around your invoice, and Revenue values the car higher. The upside: it follows a traceable method, you can estimate it in advance, and you can challenge it.
What is the OMSP?
OMSP stands for Open Market Selling Price: under Section 133 of the Finance Act 1992 (as amended), it is "the price, inclusive of all taxes and duties, which the vehicle might reasonably be expected to fetch on a first arm's-length sale thereof in the State on the open market." In plain terms: what your car would sell for, second-hand, from an Irish dealer today. Three points follow:
- It is gross. The OMSP already includes all taxes, including the 23% VAT built into Irish retail prices.
- It is Irish. The reference market is the Irish second-hand market — not the UK, not anywhere else.
- It is "as you find it". Mileage, condition and spec all move the figure, even for identical models.
How Revenue determines the OMSP
Revenue sets the OMSP from an internal valuation database that maps each vehicle to a statistical code and benchmarks it against comparable Irish retail sales. Now that the definition is clear, the natural question is where that figure comes from.
Every make, model and variant is tied to a statistical code, which tells Revenue exactly which vehicle it is valuing. The OMSP is then anchored to what comparable cars change hands for on the Irish market — drawing on trade guides (Cap HPI, Glass's), asking prices from Carzone and DoneDeal, and Revenue's own registration history. The figure is finalised at your NCTS inspection.
What moves the OMSP up or down
Two cars with the same statistical code can still be valued differently, because Revenue adjusts for the vehicle's real state. The main factors:
- Mileage — a car with 200,000 km is worth noticeably less than the same model at 80,000 km.
- Age — each additional year of depreciation lowers the Irish retail value.
- Condition and spec — trim level, options and overall condition all feed in.
Why the OMSP is almost always higher than what you paid abroad
The OMSP is almost always higher than a UK purchase price because Irish retail values for the same year, spec and mileage are typically dearer than in Britain. It rarely matches the sum you actually handed over.
That is why two identical cars bought abroad at different prices can still receive the same OMSP once they land here: Revenue is valuing the Irish market, not your transaction.
How the OMSP feeds into your VRT bill: a worked example
Your VRT is the OMSP multiplied by a CO2-based rate (7% to 41% for cars in Category A in 2026), with a separate NOx levy added on top. Once the OMSP is fixed, turning it into a euro figure is simple arithmetic.
| Step | Figure |
|---|---|
| UK purchase price | ~£6,000 (~€7,000) |
| Revenue OMSP (Irish market value) | €9,500 |
| CO2 band rate (illustrative) | 19% |
| VRT due (OMSP × rate) | €1,805 |
| NOx levy | added separately |
| VRT base | the €9,500 OMSP |
Once you have an OMSP estimate, price your import in one pass to see the VRT in your total landed cost.
How to appeal an OMSP you believe is too high
If you think Revenue's OMSP is too high, you must pay the VRT first, then appeal in writing using Form VRT14 through MyEnquiries within two months of the decision — omsp.ie covers the appeal route in more depth. Build your case before you file:
- Pay the VRT as assessed at the NCTS centre.
- Gather evidence — comparable Irish listings for the same year, spec and mileage, or an independent professional valuation.
- Submit Form VRT14 via MyEnquiries within the two-month window, attaching your evidence.
Frequently asked questions
Beyond the core mechanics, a few specific points regularly trip importers up.
Does the OMSP include VRT?
No. The OMSP is a gross figure that includes the 23% VAT in Irish retail prices, but the VRT is not inside it — VRT is calculated from the OMSP by applying the CO2 rate.
Is the OMSP the same as the OMV?
No. The OMV (Open Market Value) is the Irish new retail price used for company-car Benefit-in-Kind. The OMSP is the current second-hand Irish value used for VRT.
Can I check the OMSP before I buy?
Yes — look it up for free, with no account, using Revenue's eVRT enquiry at ros.ie to budget your VRT before committing.
Can I legally reduce my VRT?
You cannot lower the OMSP itself, but you can avoid overpaying: check the OMSP in advance, make sure Revenue applies the correct statistical code, and remember that qualifying electric vehicles attract VRT relief. Appeal if the figure looks wrong.