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This special tax revision for Euro V compliant diesel cars may be able to help boost the sales of diesel cars in Singapore.

17 Feb 2012 | Local News : Singapore

As announced by the Minister for Finance, Mr. Tharman Shanmugaratnam, in his FY2012 Budget Statement, the special tax for Euro V compliant diesel cars will be revised with effect from 1st January 2013.  Instead of the current rate of $1.25 per cubic centimetres (cc), the annual special tax for a Euro V compliant diesel car will be computed based on $0.40 per cubic centimetres (cc) of engine capacity, subject to a minimum annual payment of $400.

The revision to the special tax structure for Euro V compliant diesel cars is made in recognition of its improved emissions, relative to pre-Euro V diesel cars.

Motorists can choose to pay the special tax annually or 6-monthly, together with the road tax.  The revised special tax for Euro V compliant diesel cars will result in nearly 70% savings to owners, as shown in the table below:

Engine Capacity

Current 6-monthly Special Tax

New 6-monthly Special Tax

Savings

Percentage Savings

1,600cc

$1,000

$320

$680

68%

2,000cc

$1,250

$400

$850

68%

2,500cc

$1,563

$500

$1,063

68%


According to LTA, the special tax for diesel taxis and Euro IV diesel cars will remain unchanged at $5,100 per annum and $1.25 per cubic centimetres (cc) respectively.
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