FRIDAY, APRIL 4, 1986
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REGISTRATION TAX BENEFIT FOR DISABLED DRIVERS
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DISABLED DRIVERS WILL BE ABLE TO ENJOY EXEMPTION FROM THE FIRST REGISTRATION TAX ON VEHICLES IF THEY CAN PROVE THAT THE VALUE OF THE THE IR PRIVATE CAR, ON THE DAY OF PURCHASE, IS BELOW $30 000, SENIOR EXECUTIVE OFFICER (LICENSING) OF THE TRANSPORT DEPARTMENT, MR WARREN CHENG, SAID TODAY (FRIDAY).
MR CHENG WAS RESPONDING TO REPORTS THAT FLUCTUATIONS IN THE EXCHANGE RATE OF THE HONG KONG DOLLAR IN RECENT MONTHS HAD PUSHED UP THE TAXABLE VALUE OF SOME IMPORTED PRIVATE CARS TO OVER $30 000.
AT PRESENT, THE FIRST REGISTRATION TAX OF A PRIVATE CAR RANGES A FROM 70 TO 90 PER CENT OF ITS COST, INSURANCE AND FREIGHT VALUE. DISABLED PERSON MAY CLAIM EXEMPTION FROM THE TAX IF THE CIF VALUE OF HIS PRIVATE CAR DOES NOT EXCEED $30 000 AND IF HE HAS NOT MADE A SIMILAR CLAIM IN THE PREVIOUS FIVE YEARS.
+ IF THERE IS CLEARLY A CASE SHOWING THAT SINCE THE SIGNING OF A PURCHASE AGREEMENT BY A DISABLED PERSON, FLUCTUATIONS IN EXCHANGE RATES HAVE BOOSTED THE VALUE OF A PRIVATE CAR INTENDED FOR FIRST REGISTRATION FROM BELOW $30 000 TO ABOVE $30 000, THE DEPARTMENT WILL CONSIDER ACCEPTING THE VALUE OF THE VEHICLE AS ON THE DAY WHEN THE PURCHASE AGREEMENT WAS SIGNED, MR CHENG SAID.
+ IN SUCH CIRCUMSTANCES, A DISABLED CAR OWNER SHOULD BRING ALONG THE VEHICLE PURCHASE AGREEMENT WITH HIM TOGETHER WITH OTHER DOCUMENTS WHEN HE REGISTERS HIS PRIVATE CAR WITH THE DEPARTMENT AND CLAIMS TAX EXEMPTION, HE CONTINUED,
MR CHENG ADDED THAT THE DEPARTMENT'S RECORDS SHOWED THAT THE VALUE OF MANY POPULAR MODELS OF PRIVATE CARS DID NOT EXCEED $30 000. MOREOVER, MANY OF THESE MODELS REMAINED UNAFFECTED BY FLUCTUATIONS IN THE EXCHANGE RATES BECAUSE VALUES WERE DECLARED IN HONG KONG DOLLARS.
IN FACT, POTENTIAL DISABLED CAR OWNERS SHOULD ASK MOTOR DEALERS TO RECOMMEND MODELS WHICH WOULD SURELY QUALIFY THE BUYERS FOR TAX EXEMPTION, HE SUGGESTED.
FURTHER ENQUIRIES ON EXEMPTION FROM THE FIRST REGISTRATION TAX MAY BE MADE TO THE HONG KONG LICENSING OFFICE ON 5-259494.
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