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14-10-2013, 12:40 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
73793.1 (http://www.singsupplies.com/3in1kopitiam/messages?msg=73793.1)Posted Yesterday, 07:28 AMAlheych
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Alheych (http://www.mycarforum.com/user/60866-alheych/)4th Gear
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928Joined:29 December 2009Posts:921
I would like to share an interesting observation with everyone, this is probably old news to many MCFers, but I really don't wish to start a new discussion about the necessity of the COE or ERP, enough threads have been opened for them.
According to the Budget 2013 website, vehicle quota premiums (ie COE) and motor vehicle related taxes (road tax, ERP etc) contribute to 4% of the government's revenue each. That means altogether, vehicle-related taxes make up 8% of the government's income every year!
http://www.mof.gov.sg/budget_2013/images/aboutBudgetRevExp1.jpg
Now I'm no tax expert and I don't how much vehicle taxes contribute to government revenues in other countries (maybe there'a tax accountant here who can contribute?), but personally, I find 8% quite high for anywhere.
The government probably didn't start out with the intention to get so much tax from vehicles, but as they tried to curb vehicle population and ease congestion, they end up collecting more and more and found it to be a convenient source of income. And when you can count on that source for next year's budget, it's natural that you might not want to disturb this fat goose.
My real question is this: has collecting so much money been an effective way to manage vehicular growth? Personally, I think we've been put on a path where we cannot afford to cease the COE and ERP, or all hell will break loose when everyone gets easy access to a car, when there are not enough car parks and not enough lanes. We'll become a Bangkok or a KL. And if an alternate government does take power, they may not want to let go of this fat goose even if they know it's not been effective.
What do you think?
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?165915-Vehicle-related-taxes-make-up-8-of-government-revenue&goto=newpost).
73793.1 (http://www.singsupplies.com/3in1kopitiam/messages?msg=73793.1)Posted Yesterday, 07:28 AMAlheych
http://www.mycarforum.com/uploads/profile/photo-thumb-60866.jpg?_r=0 (http://www.mycarforum.com/user/60866-alheych/)
Alheych (http://www.mycarforum.com/user/60866-alheych/)4th Gear
The points of the user determines the rank. The higher the points, the higher the rank.
http://www.mycarforum.com/public/style_extra/reputation_icons/rank6.gif
The bar represents the rank and points of the user. The longer the bar, the higher the rank and points.
Points:
Points are accumulated from other users who Praise or Junked this users' posts.
928Joined:29 December 2009Posts:921
I would like to share an interesting observation with everyone, this is probably old news to many MCFers, but I really don't wish to start a new discussion about the necessity of the COE or ERP, enough threads have been opened for them.
According to the Budget 2013 website, vehicle quota premiums (ie COE) and motor vehicle related taxes (road tax, ERP etc) contribute to 4% of the government's revenue each. That means altogether, vehicle-related taxes make up 8% of the government's income every year!
http://www.mof.gov.sg/budget_2013/images/aboutBudgetRevExp1.jpg
Now I'm no tax expert and I don't how much vehicle taxes contribute to government revenues in other countries (maybe there'a tax accountant here who can contribute?), but personally, I find 8% quite high for anywhere.
The government probably didn't start out with the intention to get so much tax from vehicles, but as they tried to curb vehicle population and ease congestion, they end up collecting more and more and found it to be a convenient source of income. And when you can count on that source for next year's budget, it's natural that you might not want to disturb this fat goose.
My real question is this: has collecting so much money been an effective way to manage vehicular growth? Personally, I think we've been put on a path where we cannot afford to cease the COE and ERP, or all hell will break loose when everyone gets easy access to a car, when there are not enough car parks and not enough lanes. We'll become a Bangkok or a KL. And if an alternate government does take power, they may not want to let go of this fat goose even if they know it's not been effective.
What do you think?
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?165915-Vehicle-related-taxes-make-up-8-of-government-revenue&goto=newpost).