HONG KONG – The Environmental Protection Department of Hong Kong announced on Monday that the qualifying standards, first registration tax concession rates and their concession caps for environment-friendly commercial vehicles (EFCV) would remain unchanged from April 1, 2023 to March 31, 2024.

To encourage the use of environment-friendly commercial vehicles with lower emissions, the government has been offering reduction in the First Registration Tax (FRT) to buyers of newly registered environment-friendly commercial vehicles since April 1, 2008. 

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“Vehicle owners buying environment-friendly commercial vehicles can enjoy tax concessions and make an effort to protect the environment,” the EPD said in an announcement

The EPD reviews the qualifying standards of the EFCV models annually in light of vehicle technological advancement, market availability and the prevailing statutory emission standards for the first registered vehicles.

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The objective is to ensure that tax incentive is available only to vehicles with an outstanding emission performance outstripping the prevailing statutory requirements. 

“If tightened, the new qualifying standards become effective on the following April 1,” the announcement adds.