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17 Feb 2012 | Local News : Singapore

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