Reviewing COE System for Buses and Goods Vehicles

Debated in Parliament on 14 Jan 2013.

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Pritam Singh asked the Ministry for Transport to review the COE system for goods vehicles and buses to help small businesses and SMEs manage costs.
Lui Tuck Yew stated there are no plans to review the COE system for these vehicles, noting existing concessions such as separate bidding in Category C and lower vehicle taxes like the 5% ARF for most goods vehicles.
He highlighted that businesses already benefit from not competing with private car buyers in Categories A and B, and SMEs can tap various government schemes for growth and productivity.
The government will continue to assess SME needs during annual budget exercises to determine if additional support is required.
The response emphasized that the current system is designed to alleviate business costs without requiring a review of the COE framework for buses and goods vehicles.

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Pritam Singh

Mr Pritam Singh asked the Minister for Transport whether the Ministry will consider reviewing the COE bidding system for goods vehicles and buses to alleviate the costs of doing business for small businesses and SMEs.

Lui Tuck Yew

There are currently no plans to review the COE system for goods vehicles and buses. There are already several concessions given to businesses to manage their transport costs. Businesses bid for Category C COEs to register goods vehicles and buses and do not have to compete with private car buyers in Categories A and B. In addition, business owners enjoy significantly lower vehicle taxes. The Additional Registration Fee (ARF) for all types of goods vehicles (except goods-cum-passenger vehicles7) is set at 5% of the vehicle’s Open Market Value (OMV), instead of the 100% OMV applicable for cars.

Beyond that, the Government offers various schemes on which SMEs can tap, for growth, capability development and productivity initiatives. As part of the annual budget exercise, the Government will also carefully consider the needs of the SME community, to determine if more help is needed and the appropriate means to do so.

Summary written by AI (learn more)

Pritam Singh asked the Ministry for Transport to review the COE system for goods vehicles and buses to help small businesses and SMEs manage costs.
Lui Tuck Yew stated there are no plans to review the COE system for these vehicles, noting existing concessions such as separate bidding in Category C and lower vehicle taxes like the 5% ARF for most goods vehicles.
He highlighted that businesses already benefit from not competing with private car buyers in Categories A and B, and SMEs can tap various government schemes for growth and productivity.
The government will continue to assess SME needs during annual budget exercises to determine if additional support is required.
The response emphasized that the current system is designed to alleviate business costs without requiring a review of the COE framework for buses and goods vehicles.

Questions identified by AI (learn more)

Reviewing COE System for Buses and Goods Vehicles | PAPERCUTS

Reviewing COE System for Buses and Goods Vehicles

Debated in Parliament on 14 Jan 2013.

Summary written by AI (learn more)

Pritam Singh asked the Ministry for Transport to review the COE system for goods vehicles and buses to help small businesses and SMEs manage costs.
Lui Tuck Yew stated there are no plans to review the COE system for these vehicles, noting existing concessions such as separate bidding in Category C and lower vehicle taxes like the 5% ARF for most goods vehicles.
He highlighted that businesses already benefit from not competing with private car buyers in Categories A and B, and SMEs can tap various government schemes for growth and productivity.
The government will continue to assess SME needs during annual budget exercises to determine if additional support is required.
The response emphasized that the current system is designed to alleviate business costs without requiring a review of the COE framework for buses and goods vehicles.

Questions identified by AI (learn more)

Full Transcript

Pritam Singh

Lui Tuck Yew

Summary written by AI (learn more)

Pritam Singh asked the Ministry for Transport to review the COE system for goods vehicles and buses to help small businesses and SMEs manage costs.
Lui Tuck Yew stated there are no plans to review the COE system for these vehicles, noting existing concessions such as separate bidding in Category C and lower vehicle taxes like the 5% ARF for most goods vehicles.
He highlighted that businesses already benefit from not competing with private car buyers in Categories A and B, and SMEs can tap various government schemes for growth and productivity.
The government will continue to assess SME needs during annual budget exercises to determine if additional support is required.
The response emphasized that the current system is designed to alleviate business costs without requiring a review of the COE framework for buses and goods vehicles.

Questions identified by AI (learn more)

Reviewing COE System for Buses and Goods Vehicles

Summary

Questions Identified

Full Transcript

Pritam Singh

Lui Tuck Yew

Summary

Questions Identified

Reviewing COE System for Buses and Goods Vehicles

Summary

Questions Identified

Full Transcript

Pritam Singh

Lui Tuck Yew

Summary

Questions Identified