Jeffrey Siow on revised PARF rebate
With electric vehicles becoming more commonplace, there is now less of a need to encourage early deregistration through the Preferential Additional Registration Fee (PARF) rebate, which was designed to encourage the renewal of the vehicle population to keep the fleet younger, safer and less pollutive. That is why the government lowered the rebate and also reduced the rebate cap from S$60,000 to S$30,000. The government does not expect these changes to affect COE renewal behaviour significantly. Acting Transport Minister Jeffrey Siow said this in reply to MPs’ questions in parliament on Wednesday (Mar 4).
With electric vehicles becoming more commonplace, there is now less of a need to encourage early deregistration through the Preferential Additional Registration Fee (PARF) rebate, which was designed to encourage the renewal of the vehicle population to keep the fleet younger, safer and less pollutive. That is why the government lowered the rebate and also reduced the rebate cap from S$60,000 to S$30,000. The government does not expect these changes to affect COE renewal behaviour significantly. Acting Transport Minister Jeffrey Siow said this in reply to MPs’ questions in parliament on Wednesday (Mar 4).
Popular Shows
