How does LTA compute the Green Vehicle Rebate (GVR) top-up amount?

General 27/11/2017 9 Views

1 Answer

Admin

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

0 Upvote Downvote Reply 11 months ago
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