The Public Transport Council has addressed concerns that taxi firms may infringe the Competition Act by standardising taxi surcharges.
The Land Transport Authority has announced that it will standardise the fare structure for taxis, but with the exception of flagdown rates.
Cab companies may soon be required to standardise the fare structure for their own fleet of taxis to avoid confusing passengers.
According to industry players, changes to taxi fares are expected very soon with a simpler fare structure in the works.
The Government has announced during Parliament that it will be looking into simplifying the current taxi fare structure.