SG: Electric car sharing scheme may potentially cost government $100 million in tax

The Government is currently working on implementing an electric car sharing scheme in 2016. The programme, which may cost the government up to $100 million in tax revenue, will allow electric cars to be registered without vehicular taxes for up to a decade. The estimation takes into consideration are the Open Market Value and Additional Registration Fee of said which adds up to close to $100,000 per car. These cars are road-tax exempt to, which works out to a loss of $16 million for 1,000 cars over a 10 year period. In order for the scheme to be successfully implemented and adopted, the operator has to build a network of charging stations, and they can apply for grants to cover the initial cost. As of today, nothing has been finalised yet, but the LTA has said that the amount of cost exemptions will only be confirmed post-tender.Pictures used for illustration purposes only.