|Policy status:||In Force|
|Policy Type:||Economic Instruments>Fiscal/financial incentives>Tax relief, Policy Support, Regulatory Instruments, Policy Support>Strategic planning, Regulatory Instruments>Codes and standards, Regulatory Instruments>Monitoring, Regulatory Instruments>Obligation schemes , Regulatory Instruments>Other mandatory requirements|
|Policy Target:||Transport>Passenger, Transport>Freight, Energy Sector, Transport|
|Agency:||Environmental Protection Department (EPD), Government of Hong Kong Special Administrative Region|
As of 1 April 2008, Hong Kongs Environmental Protection Department (EPD) has implemented an incentive scheme to encourage investment in environmentally friendly commercial vehicles meeting Euro V emission standards for heavy-duty and light-duty diesel vehicles.
Owners of such vehicles are offered a reduction in their First Registration Tax (FRT).
Under the tax concession scheme commercial vehicles include taxis, light-, medium- and heavy-goods vehicles, public and private light buses, public and private non-franchised buses and special purposes vehicles.
The rates of reduction of the FRT for different vehicle classes are as follows:
8Vehicles will need to be sold with "Environment-Friendly Commercial Vehicle Certificates" in order to qualify for the tax waiver.
Currently, four models of Toyota vans and three Mercedes-Benz trucks are the only vehicles to receive the certificate. Qualification under the scheme is temporary, as it will be reviewed each year and should requirements be tightened, the vehicle will have to meet the new qualifying standards for the incentive to be received.
Last modified: Mon, 22 May 2017 09:57:05 CEST