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Singapore Budget 2019: Diesel excise duty doubled to 20 cents per litre
THE Singapore government will further restructure the diesel taxes, said Minister for Finance Heng Swee Keat on Monday, in a bid to build a more sustainable environment.
Firstly, to continue the restructure of the diesel taxes, the excise duty for diesel will be raised by 10 cents per litre to 20 cents per litre. This takes immediate effect, said Mr Heng.
At the same time, he said the government will permanently reduce the annual special tax on diesel taxis by S$850.
“I strongly urge taxi companies to pass on the savings to their drivers, like they did in 2017. This will, on average, reduce the impact of the duty increase by more than three-quarters for taxis,” said Mr Heng.
He said the government will also permanently reduce the special tax on diesel cars by S$100. This will on average reduce the impact from the higher excise duty by more than half.
To help businesses adjust, the government will provide a 100 per cent road tax rebate for one year, and a partial road tax rebate for another two years for commercial diesel vehicles.
Mr Heng said the Singapore government will also provide additional cash rebates of up to S$3,200 for diesel-run buses ferrying school children.
For all of our Singapore Budget 2019 coverage, news, analysis, and infographics visit bt.sg/budget19