FY2026 revenue seen up to $134.75b on higher vehicle collections

Higher COE quotas are expected to lift vehicle quota premiums to $9.42b.

Singapore’s operating revenue is projected to rise to $134.75b in FY2026, with part of the increase coming from higher vehicle-related collections.

Vehicle quota premiums are expected to grow by 8.8% to $9.42b, on the back of an expected increase in certificate of entitlement (COE) quotas, according to a Ministry of Finance report.

Meanwhile, motor vehicle taxes are estimated to increase 17.2% to $2.80b, due to a higher COE quota and the cessation of the Electric Vehicle Early Adoption Incentive rebate from 1 January 2027.

In a related move, Singapore has halved the preferential additional registration fee rebate to $30,000 from $60,000 for cars de-registered before 10 years, Prime Minister Lawrence Wong said in his Budget 2026 speech.

Operating revenue is projected to rise 3% from the revised FY2025 figure of $130.86b, mainly due to higher collections from corporate income tax, personal income tax and goods and services tax.

“The increase is partially offset by lower collections expected from Other Taxes (Land Betterment Charge and Annual Tonnage Tax),” the report added.

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