Research has shown that high COE prices have the unintended effect of inducing people to drive more. Should Singapore look at curbing vehicle usage rather than ownership? Distinguished Professor Ivan Png from NUS Business School weighs in.
Singapore News - About $30 million in rebates were doled out last year to encourage car and taxi owners to switch to electric vehicles (EVs), said Transport Minister S. Iswaran on Monday (Jan 10). A total of 1,636 electric cars and taxis registered in 2021 benefited from the rebates under the Electric. Read more at www.tnp.sg
2021 Budget tax developments | Dentons jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
More tax incentives down the road to promote electric car usage
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The Government has announced that there will be more electric car incentives on the way in order to encourage more people to purchase electric cars.
More electric car incentives are on the way as the Government speeds up towards the phasing out of vehicles running purely on fuels here. As part of the inter-ministerial Singapore Green Plan 2030 announced on 10 February 2021, the Government said it will revise Singapore s multi-layered vehicle tax structure to make it easier to buy and own Electric Vehicles (EVs). EV incentives were enhanced just last month, when bigger rebates under the Vehicular Emissions Scheme as well as the Electric Vehicle Early Adoption Incentive kicked in. Together, they accord an electric car buyer as much as $45,000 in tax breaks. The road tax formula has also been revised to make it less onerous for electric car owners.