Singapore's Vehicle Quota Revenue Surges to S$8.66 Billion, Exceeding Expectations

The Singapore government collected S$8.66 billion (approximately US$6.9 billion) in revenue from its Vehicle Quota System—commonly known as the Certificate of Entitlement (COE) bidding—in the year ending March 2026, exceeding earlier projections by 31%. When combined with other motor vehicle-related taxes, the government’s total revenue reached S$11.05 billion—surpassing even Fiji’s entire annual GDP. Singapore enforces a strict vehicle ownership regime, requiring all vehicles to obtain a COE through competitive bidding before they can be driven on public roads, a system that continues to generate substantial fiscal revenue for the government.