Green cars in Singapore cost $155m in tax breaks
Number that qualified for emissions scheme 3 times more than expected
Published on Aug 6, 2014 5:58 AM
A scheme to encourage consumers to buy "greener" cars has resulted in tax breaks for far more cars than the Government expected.
In the first 18 months of the Carbon Emissions-based Vehicle Scheme (CEVS), nearly 60 per cent of new cars sold qualified for the tax breaks.
Cars are entitled to the tax breaks if their carbon emissions fall under a certain level.
The rebates, ranging from $5,000 to $20,000, translated to more than $155 million in taxes forgone - three times more than envisaged.
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