Cars
For passenger, classic cars and vintage cars that are manufactured before 1940, an excise duty rate of 20% will be levied on the customs value of the vehicle.
For vintage cars registered under the various Vintage Vehicle Schemes with the Land Transport Authority of Singapore where the vehicle was previously exempted from excise duty and a transfer of ownership occurs, the excise duty will be the duty amount that would have been payable when the vehicle was first imported into Singapore.
Example on the calculation of duties payable for cars:
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Formula
Duties payable = customs value x excise duty rate
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Company A imports a motor car that was bought at S$100,000 on FOB (Free on Board) incoterms. The overseas freight, handling and insurance charges to ship the car to Singapore costs S$1,000.
Customs value of car = S$101,000
Duties payable = S$101,000 x 20% = S$20,200
Motorcycles / Scooters
For all motorcycles and scooters, an excise duty rate of 12% will be levied on the customs value of the motorcycle or scooter.
Example on the calculation of duties payable for motorcycles or scooters:
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Formula
Duties payable = customs value x excise duty rate
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Company A imports a motorcycle that was bought at S$19,000 on FOB (Free on Board) incoterms. The overseas freight, handling and insurance charges to ship the motorcycle to Singapore costs S$100.
Customs value of motorcycle = S$19,100
Duties payable = S$19,100 x 12% = S$2,292