ARF stands for Additional Registration Fee – a tax imposed once a vehicle is registered and is calculated based on a percentage of the open market value (OMV) of the car.
PARF or Preferential Additional Registration Fee rebates are only entitled for cars below 10 years old. A new car with more value will incur higher PARF rebates. To calculate your car’s PARF rebate, multiply the ARF by the percentage based on the car’s age.
For cars eligible for PARF rebate, you get between 50% and 70% of its ARF if you scrap it before its 10th year. A COE car is a vehicle that has already renewed its first COE for either 5 or 10 years. You will not get a PARF rebate but a COE rebate if you de-register the car before the COE is up. This amount is dependent on the quota premium paid and the number of years left on the COE.