how VES tax works?

[HondaJG]

base on this scenario, if the car parf value is 15k.

with VES tax rebate?
- (15k - 10k) /2 = 2.5k
- actual scrap value is 2.5k ?

with VES tax (10k) no-rebate ?
- how does this work?
- what is the actual scrap value then?

 

[HondaJG]

nobody knows

 

[EJB]

Assuming PARF is 10K when you scrap, 5K VES rebate = 10-5 = 5K PARF value when scrap.

 

[giraffey]

base on this scenario, if the car parf value is 15k.

with VES tax rebate?
- (15k - 10k) /2 = 2.5k
- actual scrap value is 2.5k ?

with VES tax (10k) no-rebate ?
- how does this work?
- what is the actual scrap value then?

correct. 2.5k only. this is also the minimum amount you would receive even if the rebates are higher.

if there is a surcharge, it would be 15k/2=7.5k. the surcharge is already paid upfront during the purchase of the car.

 

[hoks]

Sounds a bit weird leh...

If there is a ves rebate, end of 10yrs hv to give garmen back half.
If there is a ves surcharge, end of 10yrs garmen no give me back half.

 

[giraffey]

Sounds a bit weird leh...

If there is a ves rebate, end of 10yrs hv to give garmen back half.
If there is a ves surcharge, end of 10yrs garmen no give me back half.

if its a rebate, the rebate is not given upfront. meaning to say, you are not buying the car after the rebate price. thats why its deducted later.

if its a surcharge, its charged upfront, you already pay for it when you buy the car.

 

[EJB]

Sounds a bit weird leh...

If there is a ves rebate, end of 10yrs hv to give garmen back half.
If there is a ves surcharge, end of 10yrs garmen no give me back half.

In short, they are out to sucker us.

 

[HondaJG]

correct. 2.5k only. this is also the minimum amount you would receive even if the rebates are higher.

if there is a surcharge, it would be 15k/2=7.5k. the surcharge is already paid upfront during the purchase of the car.

Thanks for the explanation.
now I understood how the VES tax rebate and surcharge works.

The difference between Band A1 to A4 VS Band B to C4 is to minus off the VES rebate when car scrap.
And the difference between Band C1 to C4 VS Band B is to pay the VES surcharge up front.

 

[HondaJG]

Sounds a bit weird leh...

If there is a ves rebate, end of 10yrs hv to give garmen back half.
If there is a ves surcharge, end of 10yrs garmen no give me back half.

either way is still about 75% or more instead of half, and is counting based on paper value of the car

 

[HondaJG]

In short, they are out to sucker us.

seems like is to reduce the bigger & more carbon emission cars to smaller cars

 

[Sammiegirl00]

Don’t know
Don’t care
Just buy away

 

[andyhtc]

VES is on trial for 2 years. Given that it has caused COE to fall sharply, there is a chance of upward adjustment.

 

[HondaJG]

VES is on trial for 2 years. Given that it has caused COE to fall sharply, there is a chance of upward adjustment.

on 2yrs trial? after that will come out new pattern? VVES Continuous Taxing?