Really
:shock: I'm really not surprised but that cuts off a lot of history
Some fun Singapore car facts:
Owning a Vehicle in Singapore
The 2 main factors that impact the cost of car ownership in Singapore are:
* The vehicle tax regime including import duties, additional registration fees (ARF) and road tax.
* The Vehicle Quota System which limits the vehicle population growth in Singapore to approximately 3% per annum. The tool which is used to limit the number of cars registered in Singapore is the Certificate of Entitlement or COE. Each vehicle registered in Singapore must have an accompanying COE which is “attached” to the vehicle throughout the vehicle’s lifespan. For more information on the Vehicle Quota System and COEs, please visit
Land Transport Authority (The Land Transport Authority) and
ONE.MOTORING - Home (a central motoring portal).
The purchase price of a new car is made up of the following components:
ITEM DESCRIPTION EXAMPLE
OMV Open Market Value or import value of the car as assessed by Singapore Customs $20,000
Import Duty Currently 20% of the OMV $4,000
GST Currently 5% of import value $1,200
ARF Currently 110% of OMV $22,000
Registration fee Currently at $140 $140
Sub-Total Base cost before local accessory installation, number plates, COE, insurance, road tax, etc and any dealer profit. $47,340
Financial Information on Car Ownership in Singapore