The COE premiums payable are exclusive to the base selling price of a vehicle and usually added on during the final sales quotation.As announced in the Budget Statement 2013, a tiered Additional Registration Fee (ARF) structure will replace the existing flat rate of 100 per cent of the Open Market Value (OMV) for cars, taxis, and goods-cum-passenger vehicles to achieve a more progressive vehicle tax system. Please refer to annex for examples.<http://app.lta.gov.sg/data/apps/news/press/2013/Annex_Examples%20of%20 tiered%20ARF%20computation.pdf> The Vehicle Quota System regulates Singapore's vehicle population. Quota allocated is in proportion to Category's share of the total population. This quota premium is derived from the Open tender held on the third week of every month. Category E: Open. This category receives 25% of the estimated de-registrations from categories A - D. COEs in this category are Transferable. Latest index price applies to the month ahead and is valid for 3 months. COEs issued to companies are Not Transferable. Changes to Index: No changes.