XN000022-1991-03-06 — Page 34

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WEDNESDAY, MARCH 6, 1991

"OWNERS

OF

THOSE VANS

PRIVATE

RATE

FOR USED BEEN WHICH HAVE PASSENGER PURPOSES HAVE BEEN ABLE TO TAKE ADVANTAGE OF THE LOWER

AVOID FIRST REGISTRATION TAX INTENDED FOR GOODS VEHICLES AND THUS

THE EFFECTIVENESS OF TAX AT A LEVEL APPROPRIATE TO PRIVATE VEHICLES.

HE SAID.

OF

THE TAX AS A VEHICLE CONTROL MEASURE HAS ALSO BEEN REDUCED,

71

THE

PROPOSED FINANCIAL SECRETARY ADDED.

INCREASE

то WAS

REMEDY

THE

SITUATION,

THE

THE

ADDITIONAL

REVENUE

ARISING

FROM

THESE

INCREASES

WAS

ESTIMATED TO BE $460 MILLION.

EXISTING

AND PROPOSED

THE FOLLOWING ARE THE DETAILS OF THE RATES OF MOTOR VEHICLE FIRST REGISTRATION TAX:

MOTOR VEHICLE FIRST REGISTRATION TAX

CLASS

EXISTING RATE

PROPOSED RATE

(% AD VALOREM)

(% AD VALOREM)

PRIVATE CARS

BASIC CARS (CIF VALUE BELOW $30,000) SEMI-LUXURY CARS (CIF VALUE BETWEEN

80

90

$30,000 - $60,000)

90

105

LUXURY CARS (CIF VALUE EXCEEDING $60,000)

100

120

MOTOR CYCLES AND MOTOR TRICYCLES

80

90

GOODS VEHICLES

VAN-TYPE LIGHT GOODS VEHICLES :

NOT EXCEEDING 1.9 TONNES

25

90

EXCEEDING 1.9 TONNES

25

50

25

OTHERS

25

35

OTHER TYPES OF VEHICLES (TAXIS, PUBLIC AND PRIVATE LIGHT BUSES, PUBLIC AND PRIVATE BUSES, AND SPECIAL PURPOSE VEHICLES)

15

15

FEES AND CHARGES

THE FINANCIAL SECRETARY PROPOSED TO INCREASE THE TOLLS FOR THE DEPOSIT- ABERDEEN AND SHING MUN TUNNELS; RESTRICTED LICENCE BANK AND

VEHICLE AND DRIVING TAKING COMPANY LICENCE AND REGISTRATION FEES;

FEES: AND THE LICENCE FEES; PASSENGER TRANSFER OF VEHICLE OWNERSHIP FEE.

EMBARKATION

AND BERTHING

/TOLLS FOR