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Following is the speech by the Secretary for Financial Services and the Treasury, Professor K C Chan, in moving the resolution under the Motor Vehicles (First Registration Tax) Ordinance in the Legislative Council today (March 18):
President,
I move that the resolution as printed on the Agenda under my name be passed to extend the first registration tax exemption for electric vehicles for another five years, i.e. from March 31 this year to March 31, 2014.
In the 1994-95 Budget, we announced our proposal to exempt electric vehicles from the first registration tax for a period of three years. Our aim was to encourage the use of the more environmentally-friendly electric vehicles.
Thereafter, extensions were proposed to, and passed by the Legislative Council four times respectively in 1997-98, 2000-01, 2003-04 and 2006-07. The current exemption will expire at end of March this year. To continue to promote the use of electric vehicles by the public, the Financial Secretary has proposed in the 2009-10 Budget to extend the exemption for a further five years up to March 31, 2014.
I now introduce the resolution under Section 5(4) of the Motor Vehicles (First Registration Tax) Ordinance to implement the aforesaid measure.
President, I move that the resolution be passed. I hope that Members can support the resolution.
Ends/Wednesday, March 18, 2009
Issued at HKT 15:49
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