In his Budget 2023 speech, Deputy Prime Minister and Finance Minister Lawrence Wong said that cars with an OMV (the approximate cost of a car before taxes) higher than $80,000 will incur an additional registration fee (ARF, or the main car tax) of 320 percent from 220%.

Will it stop the rich in their tracks? Or will such cars be even more exclusive now that they are more expensive to buy? We speak to Dr. Walter Theseira, Associate Professor, Economics, Singapore University of Social Sciences to get his insights on the subject.

In his Budget 2023 speech, Deputy Prime Minister and Finance Minister Lawrence Wong said that cars with an OMV (the approximate cost of a car before taxes) higher than $80,000 will incur an additional registration fee (ARF, or the main car tax) of 320 percent from 220%.
Will it stop the rich in their tracks? Or will such cars be even more exclusive now that they are more expensive to buy? We speak to Dr. Walter Theseira, Associate Professor, Economics, Singapore University of Social Sciences to get his insights on the subject.

Get a head start to your work day with Ryan Huang, Emaad Akhtar and Audrey Siek from 6am to 9am. 

Listen to insightful discussions on the stories and issues that matter the most to you and be apprised of the markets and the companies to watch.

Get a head start to your work day with Ryan Huang, Emaad Akhtar and Audrey Siek from 6am to 9am. 
Listen to insightful discussions on the stories and issues that matter the most to you and be apprised of the markets and the companies to watch.

Breakfast with Ryan Huang, Emaad Akhtar and Audrey Siek

Get a head start on your workday with Ryan Huang, Emaad Akhtar and Audrey Siek from 6 am to 9 am. 

Listen to insightful discussions on the stories and issues that matter the most to you and be apprised of the markets and the companies to watch.

Get a head start on your workday with Ryan Huang, Emaad Akhtar and Audrey Siek from 6 am to 9 am. 
Listen to insightful discussions on the stories and issues that matter the most to you and be apprised of the markets and the companies to watch.

Breakfast with Ryan Huang, Emaad Akhtar and Audrey Siek (6am-9am)

Why It Matters: Will luxury car taxes really affect the wealthiest in Singapore?

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