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Hong Kong Notes Current Tax Measures for Electric Vehicles — Orbitax Tax News & Alerts

In a response to a question from the Legislative Council on promoting the popularization of electric vehicles (EVs), Hong Kong's Secretary for the Environment has provided an overview of the government's policy direction and current measures. With respect to taxation, the response notes that the government has extended the first registration tax (FRT) concession period for EVs to March 31, 2024. Further, enterprises continue to be allowed to claim full profits tax deductions for their capital expenditure on the procurement of EVs in the first year.