By Nicholas Fang and Henrick Tsjeng, Today, 24 Feb 2012.
The Singapore Budget 2012 was recently announced and it was revealed that the Green Vehicle Rebate (GVR) Scheme will be replaced with a new Carbon Emissions-based Vehicle Scheme (CEVS).
The GVR offers a 40 per cent rebate for environmentally friendly vehicles. The CEVS is a rebate programme that will specifically reward carbon-efficient vehicles – those with low carbon emissions per kilometre travelled – with rebates, while penalising those with higher carbon emissions.
The Special Tax for diesel vehicles that comply with Euro V emissions standards will also be slashed from S$1.25 per cu cm to S$0.40 per cu cm with effect from January 2013, a 70 per cent reduction. This is to promote the use of new diesel technologies that are considered cleaner. Read more