Budget 2022: Higher ARF may not put the brakes on luxury car sales
Add BT as a preferred source
IF you've got it, flaunt it. But if one of the ways you like to flaunt your wealth is by driving a luxury car, be prepared to give some of it back.
Finance Minister Lawrence Wong announced a higher tax for luxury cars during yesterday's Budget Day speech, starting with cars registered with certificates of entitlement (COEs) from next week's bidding round.
That means the new measure is effectively already in place, because cars bought today will have to be registered with COEs from the next bidding round onwards.
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre
