A newly announced increase in additional registration fee for higher-end cars will also contribute to this. Read more at straitstimes.com.
SINGAPORE - The collection of motor vehicle taxes and revenue from certificates of entitlement is expected to rise by 4.6 per cent this year to $6.42 billion.Meanwhile, excise duty for motor vehicles is expected to total $279.9 million, or 7.1 per cent higher.offset by softer average premiums. And secondly, the market share of higher-end cars should continue to grow, offset by concessions given to cleaner energy vehicles such as electric cars.
According to Land Transport Authority figures, bigger and more powerful cars accounted for 50.5 per cent of 2022’s car population of 650,208. In 2012, they made up 44.6 per cent of 617,556 cars here.
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