Current The ARF is currently tiered based on the following rates:
| Open Market Value (”OMV”) | ARF Rate |
|---|---|
| First S$20,000 | 100% of OMV |
| Next S$30,000 | 140% of OMV |
| In excess of S$50,000 | 180% of OMV |
Proposed The portion of OMV in excess of S$80,000 for cars will be taxed at 220%.
| OMV | ARF Rate |
|---|---|
| First S$20,000 | 100% of OMV |
| Next S$30,000 | 140% of OMV |
| Next S$30,000 | 180% of OMV |
| In excess of S$80,000 | 220% of OMV |
The new rates will apply to all cars, including imported used cars, and goods-cum-passenger vehicles registered with Certificates of Entitlement (“COEs”) obtained from the second COE bidding exercise in February 2022 onwards.
For cars that do not need to bid for COEs (e.g., Taxis, classic cars), the new rates will apply from 19 February 2022.
Further details will be announced by the Land Transport Authority.
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