OMV: what it is and what it adds up to
The open market value is the import price of a car, assessed by Singapore Customs. Every tax on a new car is calculated from it. Rules read on 24 October 2026.
Taxes and fees on top of the OMV, before COE
$35,050
Car before COE $60,050, or 2.40 × the OMV
| Excise duty (20% of OMV) | $5,000 |
| GST (9% of OMV + excise) | $2,700 |
| ARF (tiers) | $27,000 |
| VES rebate or surcharge | ±$0 |
| EEAI (electric, 2026) | $0 |
| Registration fee | $350 |
Prepared by Radif Partners · Method · COE results read on 24 October 2026 (latest: 2nd exercise of October 2026)
The open market value (OMV) is what a car costs when it lands in Singapore: purchase price, freight, insurance and the other charges of delivering it, as assessed by Singapore Customs. On top of it come excise duty of 20% of the OMV, GST of 9% on the OMV plus duty, the $350 registration fee and the ARF in tiers, adjusted by the VES. A car with an OMV of $25,000 in VES band B therefore costs $60,050 before its COE, 2.40 times its OMV, and $192,054 with the latest Category A premium. The multiple rises with the OMV because the ARF does: at $80,000 of OMV the car costs 3.01 times its OMV before the COE. The OMV is not published model by model, but it appears on a dealer’s price list and on the registration documents.
From OMV to price, five examples
| OMV | Duty and GST | ARF (band B) | Before COE | Multiple of OMV | With latest COE |
|---|---|---|---|---|---|
| $18,000 | $5,544 | $18,000 | $41,894 | 2.33 × | $173,898 |
| $25,000 | $7,700 | $27,000 | $60,050 | 2.40 × | $192,054 |
| $35,000 | $10,780 | $41,000 | $87,130 | 2.49 × | $219,134 |
| $50,000 | $15,400 | $67,000 | $132,750 | 2.66 × | $264,651 |
| $80,000 | $24,640 | $136,000 | $240,990 | 3.01 × | $372,891 |
The category column is a simplification for the table: in reality the COE category is set by engine capacity and power, not by OMV. A powerful car can have a modest OMV and still need a Category B certificate, which the category checker sorts out.
What the OMV includes
Singapore Customs assesses the OMV from the purchase price of the car, the freight and insurance to bring it here and all other charges incidental to its sale and delivery. It is the import value, not the retail price. Two identical cars brought in by different importers can have different OMVs, and the same model’s OMV moves with exchange rates and with the importer’s purchase terms. That is why LTA’s list of average OMVs per model is offered only as a reference.
What comes on top
Excise duty of 20% is charged on the OMV. GST of 9%, the rate in force since 1 January 2024, is charged on the OMV plus the duty. The registration fee is $350. The ARF is charged in slices on the OMV, as the ARF page shows, and the VES then adds a surcharge or deducts a rebate according to emissions. An imported used car pays a surcharge of $10,000 on top. Only then comes the COE.
ARF on this OMV
ARF before VES and EEAI
$27,000
| $0 to $20,000 at 100% | $20,000 |
| $20,000 to $40,000 at 140% | $7,000 |
| $40,000 to $60,000 at 190% | $0 |
| $60,000 to $80,000 at 250% | $0 |
Why the multiple grows
Duty and GST are proportional to the OMV, and the registration fee is fixed. The ARF is progressive: each slice of OMV pays a higher rate than the one below. So a car with a low OMV costs roughly 2.3 times its OMV before COE, and one with a high OMV more than 3.0 times. The COE then adds the same amount to every car of a category, which weighs much more on a cheap car than on an expensive one.
A practical consequence: a few thousand dollars of difference in OMV between two versions of a model becomes a much larger difference in the price, once the ARF tiers are applied. Compare the versions with the calculator above rather than with the brochure price abroad.
The OMV follows the car for ten years
The OMV matters long after the purchase. It sets the ARF, and the ARF sets the PARF rebate the car will return if it is scrapped before ten years. It also sets how much you may borrow: the Monetary Authority of Singapore allows a loan of up to 70% of the purchase price for a car whose OMV is no more than $20,000, and 60% above that line. A car just above $20,000 of OMV therefore needs a noticeably larger down payment than one just below it. When you buy a used car, ask for the OMV on its registration record: it tells you the ARF paid and therefore the rebate still due.
What the OMV does not tell you
The figures above stop before the dealer’s margin, delivery, insurance and accessories, which nobody publishes and which vary from one dealer to another. Type a quoted price into the advanced field of the full cost calculator to compare it with the government charges, and see the car loan page for how much of that price can be borrowed.