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FRIDAY, JUNE 17, 1994
NEW SCHEME ON FIRST REGISTRATION TAX FOR VEHICLES
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THE MOTOR VEHICLES (FIRST REGISTRATION TAX) (AMENDMENT)(NO. ORDINANCE 1994, WHICH PROVIDES FOR A NEW SCHEME ON THE CALCULATION AND ADMINISTRATION OF FIRST REGISTRATION TAX FOR MOTOR VEHICLES, WILL COME INTO OPERATION IN TWO PHASES BEGINNING NEXT MONTH.
CONFERENCE TODAY (MANAGEMENT AND THE NEW SCHEME
EXPLAINING DETAILS OF THE SCHEME AT A PRESS (FRIDAY), ASSISTANT COMMISSIONER FOR TRANSPORT LICENSING), MR ERNEST LEE, SAID THE FIRST PHASE OF PROVIDED FOR THE REGISTRATION OF MOTOR VEHICLE IMPORTERS AND DISTRIBUTORS AND FILING OF IMPORT RETURNS AND SUBMISSIONS OF PUBLISHED RETAIL PRICE LIST.
THIS WILL TAKE EFFECT ON JULY 1 THIS YEAR.
THE SECOND PHASE, PROVIDING FOR THE NEW CALCULATION AND SCHEDULES OF RATES FOR THE FIRST REGISTRATION TAX, WILL BEGIN OPERATION ON AUGUST 1 THIS YEAR.
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THE COMMISSIONER FOR TRANSPORT IS RESPONSIBLE FOR THE OVERALL ADMINISTRATION OF THE NEW SCHEME. THE CUSTOMS AND EXCISE DEPARTMENT IS AUTHORISED TO EXERCISE CERTAIN POWERS AND TO PERFORM CERTAIN DUTIES UNDER THE AMENDMENT ORDINANCE, HE SAID.
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"UNDER THE NEW SCHEME, THE AMOUNT OF FIRST REGISTRATION TAX PAYABLE IS BASED ON A RETAIL PRICE (BEFORE TAX) WHICH DISTRIBUTORS ARE REQUIRED TO PUBLISH. PREVIOUSLY, THE TAX IS BASED ON THE COST, INSURANCE AND FREIGHT (CIF) VALUE OF THE VEHICLE," MR LEE SAID.
HE SAID IF A PERSON WISHED TO FIND OUT THE AGGREGATE OF THE TAXABLE VALUE OF THE VEHICLE, EXEMPTED ACCESSORIES, WARRANTY OTHER THAN A MANUFACTURER'S WARRANTY AND THE FIRST REGISTRATION TAX PAID, HE COULD APPLY FOR THE ISSUE OF CERTIFICATE OF VEHICLE PARTICULARS (FORM T.D.61C OR T.D.61) AT ANY LICENSING OFFICE OF THE TRANSPORT DEPARTMENT.
"IN THIS CONNECTION, THE PUBLIC CAN EASILY FIND OUT WHETHER HE NEEDS ΤΟ PAY ADDITIONAL FIRST REGISTRATION TAX BEFORE PURCHASING A REGISTERED VEHICLE," HE SAID.
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IN ORDER TO PROVIDE A CLEAR PICTURE TO THE PUBLIC ABOUT TAXABLE VALUE OF VARIOUS MOTOR VEHICLES UNDER THE OLD/NEW SCHEME, WELL AS THE PROVISIONAL TAXABLE VALUE ASSESSED BY THE CUSTOMS AND EXCISE DEPARTMENT, THE TRANSPORT DEPARTMENT WILL MAKE AVAILABLE THE INFORMATION ΤΟ THE PUBLIC UPON REQUEST IN THE HONG KONG LICENSING OFFICE.
"THE COMMISSIONER FOR TRANSPORT MAY REFUSE TO RENEW THE LICENCE OF A MOTOR VEHICLE UNTIL THE OUTSTANDING FIRST REGISTRATION
TAX OR ADDITIONAL FIRST REGISTRATION TAX IS PAID, MR LEE SAID.
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"HE MAY ALSO CANCEL THE EXISTING LICENCE OF THE MOTOR VEHICLE THE REGISTERED OWNER FAILS TO PAY THE OUTSTANDING FIRST REGISTRATION TAX WITHIN 14 DAYS OF SERVICE OF A NOTICE REQUIRING PAYMENT OF THE OUTSTANDING FIRST REGISTRATION TAX, HE ADDED.
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