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The Legislative Council today (March 18) passed a resolution to extend the First Registration Tax (FRT) exemption for electric vehicles for a further five years, as proposed in the 2009-10 Budget.
The objective of this concession is to promote the use of electric vehicles, which are environmentally friendly. The resolution passed today under the Motor Vehicles (First Registration Tax) Ordinance (Cap.330) will extend the exemption until March 31, 2014.
With the Legislative Council¡¦s agreement, the Government first granted the exemption for electric vehicles from FRT in 1994-95 and has extended it on four previous occasions in 1997-98, 2000-01, 2003-04 and 2006-07.
Ends/Wednesday, March 18, 2009
Issued at HKT 14:35
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