Financial Benefit
Convert your new car before registration and get a 40% rebate on the OMV.
One major advantage for our customers is the low price of gas:
CNG (SGP): |
1.08 SGD/litre |
|---|---|
| (= 1.41 SGD/kg) | |
| CNG (MAL): | 0.30 SGD/litre |
| Diesel: | 1.25 SGD/litre |
| Petrol: | 1.72 SGD/litre |
Thereby, converting to CNG leads to substantial savings, in cost per kilometer that you drive.
Green Vehicle Rebate
Users of CNG technology also qualify for the Green Vehicle Rebate (GVR).
Owners of new green vehicles registered in Singapore will enjoy the following GVR given on the Additional Registration Fee:
For passenger vehicles: 40% of OMV at registration
For commercial vehicles: 5% of OMV at registration
The Green Vehicle Rebate allows private car owners to save 40% on their "Open Market Value" (OMV) if they buy a car which has been converted before registration!
The GVR aims at bringing a change to consumer behavior to become more environmentally friendly and to support clean emerging technologies by narrowing the cost differential between a green vehicle and the conventional equivalent model.
The GVR was first introduced in January 2001 and has been reviewed regularly.
Government agencies (Ministry of Finance, Ministry of the Environment and Water Resources, Ministry of Transport, Land Transport Authority and National Environment Agency) have reviewed the GVR once again in 2009 and decided to extend the GVR for another two years to 31 Dec 2011.
Other tax incentives enjoyed by green vehicles are:
For CNG vehicles: Special tax exemption until 31 Dec 2011.
From 2012 onwards, the CNG special tax will be removed and replaced with a CNG duty of $0.20 per kilogram of CNG.
For hybrid, electric and CNG buses and commercial vehicles: Road tax is pegged to that for petrol equivalents, which is 20% lower than their diesel equivalents.