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Singapore Budget 2015: Carbon Emissions-based Vehicle Scheme extended until June 2017
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THE Carbon Emissions-based Vehicle Scheme (CEVS), introduced in 2013, will be extended for two years until June 30, 2017, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Monday.
"We are encouraged by the results after two years. Over 65 per cent of the cars registered in 2014 qualified for CEVS rebates, while about 5 per cent paid the surcharge," he said of the scheme to encourage the take-up of carbon-efficient vehicles.
On a related note, Mr Tharman said the government would enhance the Early Turnover Scheme to further encourage the replacement of older commercial vehicles with greener vehicles that meet higher emission standards from August 2015.
Environment and Water Resources Minister Vivian Balakrishnan will provide more details on this at the upcoming Committee of Supply debate in parliament in March, said Mr Tharman.