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Today’s Top Headlines




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

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