Owning a car in Singapore means
l First buying a certificate of entitlement that cost as much as US $ 47,000 in early 1994, over and above the price of a car
l Paying 45 per cent import duty on the car's market value to register a car; a registration fee of US $1,000 for a private car and US $5,000 for a company registered car
l Paying an additional registration fee of 150 per cent of the open market value
l Paying annual road taxes based on the engine capacity of their vehicles. The road tax of company registered cars is twice as high as for private cars. For diesel vehicles, the tax is six times the road tax of an equivalent petrol vehicles.