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Monday, Jun 14, 2021

(Budget 21-2022) Car tax, fees to rise by up to 30pc

(Budget 21-2022) Car tax, fees to rise by up to 30pc

In order to relieve traffic congestion brought by the rise in private cars, Hong Kong’s finance chief has proposed increasing the rate of each tax band for the first registration tax for private cars - including electric private cars by 15 percent and the vehicle license fee by 30 percent.
Chan said other types of vehicles will not be affected, with the above-mentioned adjustments having been gazetted for taking effect today.

The maximum first registration tax concession for electric private cars under the "One-for-One Replacement" Scheme will be raised correspondingly to HK$287,500, while the first registration tax concession cap for general electric private cars will remain unchanged.

The Transport Department will also continue the studies on "Congestion Charging" and the Electronic Road Pricing Pilot Scheme in Central with the aim of optimizing the use of road space and relieving traffic congestion.

The first registration tax and the vehicle license fee for private cars have not been adjusted since 2011 and 1991 respectively.
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