OK, according to google, Singapore taxes vehicles as a percentage of their open market value. The taxes for cars are onerous: 100% for the first $20k of market value, 140% for the next $30k, then 180% for additional value above $50k. So a car with a market value of $75k would be subject to taxation of $20k + $42k +$45k = $107k. Things are way better, relatively speaking, for a motorcycle: 15% of the market value in registration fees and an additional 12% in excise tax, or 27% of the value of your bike.

Now THAT's a policy that China would be smart to adopt!

cheers