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The one-for-one replacement scheme has been extended to 31 March 2024, and the first registration tax concession for electric private vehicles is capped at HKD $97,500. Gasoline vehicle owners can enjoy tax relief of up to HKD $250,000, provided they switch to electric vehicles and meet the following three requirements.
1. The vehicle is at least six years of age
The old private car must have been first registered in Hong Kong at least 6 years ago at the time of deregistration.
2. The vehicle must have been owned under the same name for 18 consecutive months or more
The "date of registration as a vehicle owner" and the "date of cancellation of registration" shown on the vehicle registration document must be at least 18 months (one and a half years) apart.
3. License fee for at least 10 of the past 12 months had been paid
The license fee had been paid for a minimum of 10 months in the 12-month period prior to cancellation of registration, whether consecutive or not.
