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asked about General

over 2 years ago

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

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1 Answer

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Teresa

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

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over 2 years ago