New first registration tax concessions for electric vehicles to begin on April 1
********************************************************************************
Details of the new FRT concessions for different classes of EV are as follows:
i) the FRT of electric private cars (e-PCs) will be waived up to $97,500; and
ii) the FRT of 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.
As a one-off arrangement, e-PCs ordered by buyers from locally registered distributors or arranged for shipment to Hong Kong by their owners before 11am on February 22, 2017 (Hong Kong time) will still be entitled to have their FRT fully waived even if they are first registered after March 31, 2017.
A spokesman for the Environment Bureau said today (March 30), "To qualify for the one-off arrangement, the buyer should have entered into a sales agreement/contract and/or purchase order for the concerned e-PC with and paid the full purchase price or a non-refundable deposit/payment to the locally registered distributor before 11am on February 22, 2017 (Hong Kong Time).
"The e-PC owner or the concerned locally registered distributor can make an application to the Transport Department (TD) for the full FRT waiver when submitting the first registration application for the e-PC. After receiving the applications, the TD will vet the eligibility of the e-PC for the full FRT waiver. If the application for the full FRT waiver is approved, no FRT will need to be paid upon its first registration," the spokesman added.
The details of the application for an FRT full waiver for an e-PC under the one-off arrangement, including the application procedures and supporting documents required are available at the following TD’s website: www.td.gov.hk/en/public_services/licences_and_permits/vehicle_first_registration/frt_concession_for_electric_vehicles/index.html.
For enquiries, please call 1823 or the TD's Hong Kong Licensing Office at 2804 2634.
Before the expiry of the new FRT regime for EVs on March 31, 2018, the Government will review the FRT waiver in light of the latest technological developments and market situation of EVs, and other traffic considerations, in order to ensure effective implementation of the relevant policies and prudent management of public finances.
Ends/Thursday, March 30, 2017
Issued at HKT 16:00
Issued at HKT 16:00
NNNN