Channel NewsAsia - 1 hour 29 minutes
ago
SINGAPORE: Car owners will now have the option to exchange their
Preferential Additional Registration Fee (PARF) and the Certificate
of Entitlement (COE) rebates for cash.
The change follows a government review of the rebates to make it
easier for motorists to give up their cars and switch to public
transport.
From September 1, registered owners of unused and valid PARF/COE
rebates can apply to the Land Transport Authority for
encashment.
Once their applications are processed, they will receive a
refund equivalent to the rebate amount.
To facilitate the implementation of this change, PARF/COE
rebates with expiry dates between July 1 and September 29 will be
extended to the end of September.
Those affected will be informed of the revised expiry dates
within the next two weeks.
Motorists who wish to use their PARF/COE rebates to offset the
upfront taxes for a new vehicle can continue to do so.
The LTA says it will continue to issue rebates to car owners
upon de—registration of their vehicles.
The rebates will remain transferable and valid for 12 months to
provide flexibility to vehicle owners.
Transport Minister Raymond Lim had announced in March this year
that the government would be reviewing the PARF and COE
rebates.
This was to tie in with the overall effort to make public
transport a choice mode for all commuters, including car owners. —
CNA/yb