LTA said in a joint statement with the National Environment Agency (NEA) on Sept 20 that it will maintain the current 45 per cent rebate off the Additional Registration Fee (ARF) for electric cars and taxis, capped at $15,000, under the EV Early Adoption Incentive (EEAI) scheme.
The zero-dollar ARF floor for electric cars and taxis will also be extended until Dec 31, 2025, which will allow mass-market EV buyers to continue maximising the rebates from the incentive scheme.
ARF is a tax that is levied when a vehicle is registered here, and it is calculated based on a percentage of the vehicle's open market value.
This story is from the September 21, 2024 edition of The Straits Times.
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This story is from the September 21, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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