Expert counters call for petrol tax holiday
The KPMG analyst said it’s necessary to retain petrol and diesel taxes.
An expert from KPMG countered calls for a petrol tax holiday amidst rising fuel costs.
“It is necessary for Singapore to retain taxes on petrol and diesel as part of its wider move to manage car ownership here,” KPMG Partner, Gan Hwee Leng, said.
Gan added that taxes on petrol and diesel, and even on car ownership, can push residents to utilise Singapore's public transport more which in turn helps the country’s climate agenda and its goal to reduce the population of motor vehicles on roads.
To add, Gan said petrol taxes can also contribute to the government's revenue.
Under its 2022 budget, the government proposed an increase in luxury car tax.
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