Recent data reveals that car ownership costs in Singapore have surged to unprecedented heights, prompting discussions around the country's hefty vehicle taxes. A typical Toyota Camry, for instance, is priced at an astonishing 178,000 euros due to steep taxation. In the fiscal year ending in March 2026, the Singaporean government collected approximately 8.66 billion Singapore dollars (around 5.78 billion euros) in vehicle quota fees alone, a figure exceeding prior estimates by 31%.

To provide perspective, Finland's car tax collection in 2025 was a mere 276 million euros, showcasing the stark difference in vehicular taxation between the two nations. However, when accounting for total vehicle-related taxes in Finland, the overall figure rises significantly to an estimated 8 billion euros. In contrast, Singapore's total revenue from motor vehicle taxes, including all related fees, reached a staggering 11.05 billion Singapore dollars (7.4 billion euros), surpassing the annual GDP of Fiji.

This remarkable increase in tax revenue has contributed to a surplus in Singapore's national budget, leading to discussions about the sustainability of such high taxation levels and their impact on residents. The financial implications of these figures not only highlight the economic strategies employed by Singapore but also serve as a comparison metric for other nations contemplating similar tax structures.