Since Singapore‘s Budget 2017 announcement, a new three-tiered Additional Registration Fee (ARF) was introduced for all new motorcycles registered after 21 February 2017.
The reason for doing so? “There‘s a rising number of motorcycle buyers buying expensive bikes that has Open Market Values (OMV) as high as that of small cars”, says Finance Minister Mr Heng Swee Keat.
Previously, newly registered motorcycles were only liable to pay a flat 15% of the OMV in registration fees. However, with the new ARF, the first $5,000 will be charged at 15%, next $5,000 at another 50% and any amount more than $10,000 at 100%.
Sounds confusing? Fret not, that was the reason why I created this calculator to help you better understand the new tax structure and all other relevant costs.
12% of OMV
7/107 of OMV + Excise
ARF Tier 1
15% of 1st $5,000
ARF Tier 2
50% of next $5,000
ARF Tier 3
100% of > $10,000
Latest COE: $11,101
Almost OTR Price
Excludes FOB, Road Tax, Insurance & Margins