VES Rebate 2024, Eligibility and How to apply for Vehicular Emissions Scheme?

From January 1, 2024, to December 31, 2024, owners who register fully-electric cars and taxis in Singapore will receive a rebate of 45% off the Additional Registration Fee (ARF), at a revised cap of $15,000

VES Rebate 2024

The Vehicular Emissions Scheme (VES) in Singapore is a policy that applies rebates or surcharges to vehicles based on their emissions, considering factors like carbon dioxide, hydrocarbons, carbon monoxide, nitrogen oxides, and particulate matter. 

The scheme influences the Additional Registration Fee (ARF), a tax during car registration. Notably, owners registering fully-electric cars and taxis between January 1, 2024, and December 31, 2024, receive a 45% rebate on the ARF, capped at $15,000. 

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The changes to the federal electric vehicle (EV) tax credit in the US will take effect on January 1, 2024, reflecting a push by the Biden administration to focus the financial incentives on domestically produced EVs.

VES Rebate 2024 Eligibility 

The eligibility criteria for the VES rebate in Singapore in 2024:

  • Your vehicle must be registered in Singapore between January 1, 2024 and December 31, 2025.
  • Your vehicle must be classified as a VES Band A1 or A2 vehicle.
  • Band A1 vehicles are primarily electric vehicles (EVs) with zero tailpipe emissions. These vehicles are eligible for the highest rebate amount of $25,000.
  • Band A2 vehicles include most hybrids and some high-powered EVs. These vehicles are eligible for a rebate of $5,000 in 2024.
  • Your vehicle must meet the Open Cat Registration Fee (OCR) requirements. The OCR is a fee that is payable for all new car registrations in Singapore.
  • Your vehicle must meet the technical specifications for its VES band. For example, EVs in Band A1 must have a minimum battery capacity of 27 kWh.

ves rebate 2024

VES Rebate Tiers 2024

Vehicle Classification and Rebates:

  • VES bands: Cars are classified into bands based on CO2 and other pollutant emissions.
  • Band A1: Highest rebate ($25,000) – primarily EVs with zero tailpipe emissions.
  • Band A2: Lowered rebate ($5,000 in 2024) – most hybrids and some high-powered EVs.
  • Band B: No rebate – encompasses most gasoline-powered cars.
  • Band C: Surcharge – reserved for high-emissions gasoline-powered cars.

Temporary Band A2 Rebate Reduction:

  • Lowered rebate: $5,000 for Band A2 cars from January 1, 2024, to December 31, 2024.
  • Impact: Affects most hybrids and some high-powered EVs.
  • Early Adoption Incentive (EEAI): Offers 45% off ARF (capped at $15,000) for fully-electric cars and taxis registered before December 31, 2024.

How to apply for the VES 2024 rebate for your car?

You don’t actually need to apply for the VES rebate in Singapore! It’s automatically applied when you register your car, as long as your vehicle meets the eligibility criteria.

Check your car’s VES band:

  • Visit the LTA website or use their online calculator to enter your car’s model and year. This will tell you which VES band it falls into.

Ensure registration period and OCR payment:

  • Your car must be registered in Singapore between January 1, 2024, and December 31, 2025.
  • You’ll need to pay the Open Cat Registration Fee (OCR) for your car model.

Register your car:

  • Schedule an appointment with the LTA to register your car.
  • Bring all necessary documents, including your purchase agreement, insurance certificate, and road tax receipt.
  • The LTA will automatically calculate and apply the VES rebate based on your car’s band.

Receive the rebate:

  • The VES rebate will be deducted from the Additional Registration Fee (ARF) you pay during registration.
  • You’ll receive a confirmation letter with the breakdown of fees and the applied rebate amount.

Calculating Your Potential VES Rebate

  • Assess your vehicle’s VES band: Identify which band (A1, A2, B, or C) your car falls into based on its CO2 and pollutant emissions.
  • Utilise online calculators: Both the Land Transport Authority (LTA) and National Environment Agency (NEA) offer online calculators to estimate your potential rebate. Simply input your car model and band to receive an estimate.
  • Consider combined savings: If your car qualifies for the Early Adoption Incentive (EEAI) in addition to the VES rebate, calculate the combined savings potential for a more comprehensive picture.
  • Factor in Open Cat Registration Fee (OCR): Remember that the OCR will be deducted from your total rebate amount.

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