Additional 5-year COE for goods vehicles after 1st renewal

Additional 5-year COE for goods vehicles after 1st renewal
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SINGAPORE - Owners of Category 'C' (CAT C) vehicles who choose to renew their Certificates of Entitlement (COEs) for five years will be allowed further 5-year COE renewals.

This was announced by the Deputy Prime Minister and Minister for Finance during the Budget Statement 2013 and the Minister for Transport during the 2013 Committee of Supply debate.

The changes are effective from Feb 25.

The relaxation of the five-year COE renewal will apply to all CAT C vehicles such as goods vehicles, goods-cum-passenger vehicles and buses. This will help businesses ease their cash flow and provide more business flexibility.

When CAT C vehicles reach the end of their 10-year COE, owners can either pay for a 10-year COE renewal at the Prevailing Quota Premium (PQP) or extend the COE for five years at half of the PQP. Currently, the latter comes with the condition of no further COE renewal.

However, now CAT C vehicle owners who opt for the 5-year COE renewal will continue on subsequent 5-year renewals, subject to the vehicle's statutory lifespan. Goods vehicles and buses currently have a statutory lifespan of 20 years.

CAT C vehicles which are already on a 5-year renewed COE expiring on or after Feb 25 can also qualify for further 5-year renewals. Such owners with their 5-year COE expiring between Feb 25 and Mar 13 who wish to continue using their vehicles are advised to ensure that their COE and Road Tax are renewed by Mar 19.

They can renew their vehicle's COE by submitting the 'Application to Renew a COE' form and payment to LTA at the Vehicle and Transit Licensing Customer Service Centre located at 10 Sin Ming Drive, Singapore 575701, by 4pm, Mar 19.

Otherwise, they must dispose of the vehicle and submit disposal documents to LTA before 12 noon, April 13.

Members of the public can call the Land Transport Authority customer service hotline at 1800-CALL LTA (1800-2255 582) for further enquiries.