Motor Insurance for Foreign Vehicles Entering and Whilst Used in Singapore

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GST Rates revisions from 1 January 2023

In Budget 2022, the Minister of Finance announced that the GST rate will be increased from 7% in 2022 to 8% in 2023 and subsequently 9% in 2024.

Following this, we wish to inform you that the GST rate applied to the policy may change based on factors such as : (1) when the premium is received, (2) when the invoice is issued or (3) when the policy incepts.

MSFC reserves the right to adjust the GST on the premium in accordance with the IRAS guideline.

  Note: Motor Car is referred as Private Car

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Insures against legal liability for causing death or bodily injury to any person in the event of an accident caused by or arising out of the use of the Motor Vehicle.
Subject to policy terms and conditions.

CO. REG. NO: 195000106C
6 Raffles Quay #21-00 Singapore 048580 Tel: (65) 6222 2311 Fax: (65) 6222 3547 Web:
Claims & Motor Underwriting Dept: 16, Raffles Quay, #42-01, Hong Leong Building Singapore 048581 Tel: (65) 6507 3848 Fax: (65) 6507 3849
Technical Support : Whatsapp +65-98566914 or +65-90038367