The calculation is based on the number of months and days the vehicle is registered as a green vehicle and an amortization period of 10 years (for cars) and 8 years (for taxis).

The formula used is as follows:-

For Cars

GVR Top-Up = GVR received / 120 months x (120 months - no. of months & days registered as a green vehicle at time of conversion to normal petrol car)

For Taxis

GVR Top-Up = GVR received / 96 months x (96 months - no. of months & days registered as a green vehicle at time of conversion to normal petrol taxi)

Source: LTA