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The Government today (April 21) published in the Gazette that the fee payable under 3A(5) of the Motor Vehicles (First Registration Tax) Ordinance (Chapter 330) in respect of the application for registration as (i) an importer; (ii) a distributor; or (iii) an importer and a distributor shall be increased from $390 to $450 with effect from May 3.
The fee under the Motor Vehicles (First Registration Tax) Ordinance is adjusted in line with the "user pays" principle.
The costing review carried out by the Government showed that the fee payable was not adequate to recover the full costs of providing the services.
The Government will increase the fee by 15% with a view to achieving full cost recovery within seven years and to alleviating the financial impact on users of the services concerned.
Ends/Friday, April 21, 2006
Issued at HKT 14:53
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