From Jan 1 next year, an excise duty of $0.20 per kg will be imposed on compressed natural gas (CNG), Singapore Customs said on Tuesday and will affect both motorists with CNG vehicles as well as CNG traders.
With effect from Jan 1, the CNG pump price will be inclusive of duty and Goods and Services Tax (GST), and Singapore-registered CNG and petrol-CNG motor vehicles will have to adhere to the three-quarter tank rule.
This means that the CNG supply tank of such vehicles must be at least three-quarters full when leaving Singapore. A composition fine may be imposed on motorists who do not comply with the rule, Singapore Customs said. It added that it has sent letters to owners of CNG vehicles to inform them of the changes.
Manufacturers of CNG will need to apply for a licence from Singapore Customs, and will have to account for the quantity of CNG fuel produced, dispensed and sold. They will also have to pay duties on a monthly basis.
ORIGINAL SOURCE
Content used in this not-for-profit blog remain the property of their respective owners.
No comments:
Post a Comment