TNAG-0861-FCO40-1071-Legislation-for-shipping-and-port-control-in-Hong-Kong-1979 — Page 65

G.S. 84

+

XCR(79)82

RESTRICTED

4.

first registration tax as proposed in paragraph 197 of the Financial Secretary's budget speech as follows with effect from 1st March 1979:

Private

cars

Value

Old

New

of the car

rate

rate

For luxury car

exceeds $30,000

40%

45%

For semi-luxury

exceeds $20,000 but does

35%

40%

car

not exceed $30,000

For the basic car

does not exceed $20,000

30%

35%

!

•

For motorcycles

30%

35%

and motor tricycles

The additional revenue yield is estimated to be $35 million for 1979-80.

Road Traffic (Registration and Licensing of Vehicles) Regulations (Amendment) Bill 1979

14

This bill (Annex E), already has the force of law by virtue of a Public Revenue Protection Order. It increases the annual fees for motor vehicle licences as described in paragraphs 202-210 of the Financial Secretary's budget speech. Fees for motor vehicle licences are tax-loaded in that they are designed not only to cover the administrative costs of the licensing process but also to include a tax element. In order to restore the full tax-loading, and to remove certain anomalies, the new fees are as follows:

Cars

(a) Private car of which the cylinder

Old fees New fees

$

$

capacity of the engine

(i) does not exceed 1, 000 cc;

350

400

(ii)

exceeds 1, 000 cc but does not

exceed 1, 500 cc;

}

500

600

(iii) exceeds 1,500 cc but does not

exceed 2, 500 cc;

750

900

(iv)

exceeds 2, 500 cc but does not

exceed 3, 500 cc;

1,000

1, 200

(v)

exceeds 3, 500 cc but does not

exceed 4, 500 cc;

1, 250

1, 500

(vi)

exceeds 4, 500 cc;

1,500

1,800

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