Finance Act 1992 section 130A

Vehicle built from chassis or monocoque or assembly

Section 130A establishes the rules for determining the open market selling price of vehicles that have been built or assembled from a chassis, monocoque, or assembly, for the purposes of calculating vehicle registration tax (VRT).

• Where a vehicle is built from a new chassis, monocoque, or assembly, the open market selling price is determined as if the completed vehicle were being sold new in the State.
• Where a vehicle is built from a used chassis, monocoque, or assembly, the open market selling price is determined as if the completed vehicle were a used vehicle of the same age as the chassis, monocoque, or assembly.
• The Revenue Commissioners have the authority to determine what constitutes the open market selling price for these vehicles, based on the price a similar vehicle would reasonably fetch on the open market in the State.
• These provisions were introduced by the Finance (No. 2) Act 1992 and subsequently amended by the Finance Act 1999 and the Finance Act 2012.

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