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Last Update : Thu. 6th Nov., 2008 06:45 IST
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New cars imported in Singapore as used cars to pay less tax
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[Mon. 14th Jul. 2008]
In a twist to passing off used cars as new, some importers in Singapore are declaring new cars as old to benefit from a revised ruling leading to lower taxes on imported second hand vehicles, according to recent media reports from Singapore.
The Land Transport Authority (LTA) lifted a barrier on imported used cars last September in ruling such vehicles are eligible for a scrap rebate.
The
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