Well, things are going to change around here, soon enough...
As announced by the Minister for Finance, Mr. Tharman Shanmugaratnam, in his FY2012 Budget Statement, the special tax for Euro V compliant diesel cars will be revised with effect from 1st January 2013. Instead of the current rate of $1.25 per cubic centimetres (cc), the annual special tax for a Euro V compliant diesel car will be computed based on $0.40 per cubic centimetres (cc) of engine capacity, subject to a minimum annual payment of $400.
The revision to the special tax structure for Euro V compliant diesel cars is made in recognition of its improved emissions, relative to pre-Euro V diesel cars.
Motorists can choose to pay the special tax annually or 6-monthly, together with the road tax. The revised special tax for Euro V compliant diesel cars will result in nearly 70% savings to owners, as shown in the table below:
According to LTA, the special tax for diesel taxis and Euro IV diesel cars will remain unchanged at $5,100 per annum and $1.25 per cubic centimetres (cc) respectively.
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