MP Ong Teng Koon suggests “ABCD”: Additional Buyer’s Car Duty

SINGAPORE: A tax on a second, and subsequent passenger cars – similar to the Additional Buyer’s Stamp Duty in the residential property market – can help improve the spread of car ownership in Singapore, said MP Ong Teng Koon in Parliament on Thursday (Jan 28).

 

“Could we not consider here, an Additional Buyers’ Car Duty – ABCD – which could be set as a percentage of the prevailing COE price, for those who wish to buy a second, a third, or fourth car?” he asked.

Sourced through Scoop.it from: www.channelnewsasia.com

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