Singapore Car jargons

Singapore Car jargons

ARF(Additional Registration Fee)
100 per cent of the Open Market Value calculated by Singapore Customs

COE(Certificate of Entitlement)
If you want to buy a car in Singapore you need to auction for this document ( auctions are twice a mont) which is to secure with a SGD 10,000 deposit per bid. Pre-condition: you must register a car within six months when bidding for category A (cars up to 1,600 cc) Category B (cars above 1,600 cc). For category C (mostly for used cars) you need to register the car within three months.

Excise Duty
Similar to an import duty this is 45 per cent of the OMV

GST(Goods & Services Tax)
7% of a new car after deducting excise duty.

OMV(Open Market Value)
as calculated by Singapore Customs.

PARF(Preferential Additional Registration Fee)
a rebate to offset registration taxes of new vehicles.

Registration Tax
SGD 140

Road Tax
Ranges from SGD 413 a year to SGD 10,548 (for a Rolls Royce!)

Transfer Fee
The Government levies a tax when a car changes hands. Flat fee of SGD 10 per car plus 2 per cent of the vehicle’s value.

Used Car Surcharge
SGD 10,000 – to discourage import of used cars!

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