Please read the following information of Published Retail Price (PRP) and First Registration Tax (FRT) before you search for the approved PRP. This will help you understand the PRP and the calculation of the related FRT.
(1) According to the Motor Vehicles (First Registration Tax) Ordinance (Cap. 330), a registered distributor shall, before offering a motor vehicle for sale for use in Hong Kong, submit the PRP to the Customs for assessment and approval. Having obtained the approved PRP, the registered distributor shall publish the PRP in writing; for example, displaying the PRP next to the vehicle. The registered distributor shall not sell that vehicle at a price higher than the approved PRP cum the related FRT.
(2) The PRP includes the following four items:
- Item A1 : the vehicle's retail price, including the basic accessories of the vehicle
- Item A2 : the retail price of optional treatment ( i.e. optional colour for paint on vehicle's body )
- Item B : the retail price of optional accessories ( i.e. optional audio equipment)
- Item C : the retail price of optional warranty ( i.e. optional 24-month warranty service )
(3) The taxable value of the vehicle for the calculation of FRT is the aggregate of items A1, A2, B and C.
(4)
Current First Registration Tax rates
(5) According to Cap. 330, a registered distributor who fails to publish in writing a retail price list or sells a motor vehicle at a price higher than the amount permitted, commits an offence and is liable on conviction to a fine of $500,000 and to imprisonment for 12 months.
If you have any suspicious on the above offence(s), please contact Customs information hotline at 2545 6182.
