The total basic cost is the amount the dealer paid for to import and register the vehicle in Singapore. It includes the OMV, custom duty, GST, ARF, VES rebate/surcharge, registration fees and COE.
The total basic cost excludes insurance premium, number plates, road tax, IU, dealer's commission, and all other overheads.

The formula used to derive the figure is as follows:
Total Basic Cost = OMV +Custom duty + GST + ARF + Registration fee + COE + VES surcharge.

Where:
Custom duty = 20% x OMV
GST = 9% x (OMV + Custom duty)
Registration fee = $220

For more information on total basic cost, please click here.

Take note that in cases whereby the dealer is not the importer of the vehicle, the actual cost price of the car to the dealer will be significantly higher than the total basic cost.