CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Hong Kong Confirms Tax Breaks For Electronic Vehicles

Hong Kong Confirms Tax Breaks For Electronic Vehicles

by Mary Swire, Tax-News.com, Hong Kong

24 February 2017


On February 22, Hong Kong's Environment Bureau (ENB) announced the details of the first registration tax (FRT) concessions for different classes of electric vehicles (EVs) for the period from April 1, 2017, to March 31, 2018.

The FRT for electric private cars will be waived up to a cap of HKD97,500 (USD12,580). The FRT for electric commercial vehicles (including goods vehicles, buses, light buses, taxis, and special purpose vehicles), electric motor cycles, and electric motor tricycles will be waived in full.

However, as a one-off arrangement, electric private cars ordered by buyers from locally registered distributors, or arranged for shipment to Hong Kong by owners, before 11am (Hong Kong time) on February 22, are to be entitled to have their FRT fully waived, even if they are first registered after March 31 this year.

The ENB said that "commercial vehicles are the major source of roadside air pollution. Replacing conventional commercial vehicles with electric ones will produce the greatest air quality benefits. This is the reason that the Government has made the introduction of electric commercial vehicles a priority."

TAGS: environment | tax | vehicle tax | tax rates | Hong Kong | tax breaks

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »