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TRANSPORT & LOGISTICS | Staff Reporter, Hong Kong

New car tax rates approved

They will be implemented when the Motor Vehicles (First Registration Tax) (Amendment) Bill 2011 is gazetted on 17 June 2011.

According to a report, the tax rates will be:

* 40% of the taxable value of cars for the first $150,000;
* 75% on the next $150,000;
* 100% on the next $200,000; and
* 115% on the remainder.

View the full report here.

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