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how VES tax works?

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Old 11-10-2018, 10:50 AM   #1
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Post how VES tax works?

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?
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Old 11-10-2018, 05:23 PM   #2
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Exclamation

nobody knows
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Old 11-10-2018, 05:36 PM   #3
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Assuming PARF is 10K when you scrap, 5K VES rebate = 10-5 = 5K PARF value when scrap.
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Old 11-10-2018, 06:28 PM   #4
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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.
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Old 12-10-2018, 01:04 AM   #5
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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.
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Old 12-10-2018, 06:40 AM   #6
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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.
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Old 12-10-2018, 08:50 AM   #7
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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.
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Old 12-10-2018, 10:06 AM   #8
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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.
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Old 12-10-2018, 10:11 AM   #9
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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
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Old 12-10-2018, 10:14 AM   #10
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In short, they are out to sucker us.
seems like is to reduce the bigger & more carbon emission cars to smaller cars
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Old 13-10-2018, 02:00 AM   #11
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Donít know
Donít care
Just buy away
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Old 13-10-2018, 08:12 AM   #12
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VES is on trial for 2 years. Given that it has caused COE to fall sharply, there is a chance of upward adjustment.
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Old 13-10-2018, 05:29 PM   #13
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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?
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