The revised PARF rebate schedule and cap of $30,000 apply to all new cars registered with COEs obtained from the second COE bidding exercise in February 2026 onwards (i.e. from the bidding exercise that concluded on 20 Feb 2026). An example of the application of the revised PARF rebate schedule and cap can be found in Annex A. 
 
For cars that do not need a COE for registration (e.g. taxis, COE-exempt cars), the revised PARF rebate schedule and cap of $30,000 apply to those that are registered on or after 13 February. 
 
The revised PARF rebate schedule and cap do not apply to vehicles that are (i) already registered, or (ii) not eligible for PARF rebates, such as Goods-cum-Passenger Vehicles (GPVs), classic and vintage cars, and vehicles that have been laid-up.