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Financial Secretary Paul Chan Mo-po announced that the First Registration Tax Concessions for Electric Vehicles will be extended for three years, until March 31, 2024.
The tax concession scheme originally ended earlier on March 31 this year, but the government decided on an extension after analyzing the market situation and the development of electric vehicles.
“We believe that by extending the period by three years, industries will be able to have a stable supply of different electric vehicle models, which will in turn provide citizens with a more environmentally friendly option while purchasing vehicles,” the government said.