Taxes associated with importing a car for personal use

[Lootoo]

...just the thing to offset MAX A/C!

Importing makes slightly more sense if you're importing a car you've personally owned for several years, as the depreciation allowance is 25% (calculated on a rolling basis) per full year of ownership prior to import into HK. That is what I've just done, but I wouldn't have done it just to save money. I know the car and its history, so there's no used-car blues to worry about.

Apart from the wallet-draining, the worst part of the import process is the waiting! I'm supposed to finally get the HK number plates _today_--after having imported the car in early January.

[Jeremy Clarkson]

I agree the waiting can be a pain but you want the maximum depreciation, as first reg fee is based on market value where the car was purchased or was prior to entering hong kong and is not marked to the HK market or alternatively an arbitary depreciation figure based on age. The tax office will absolutley look at the invoice for purchase that you have and take that as the value. My wait was made worse by my car not getting on the planned ship but in anycase this ended up in a storm off the bay of biscay and in dock for two months for repairs so missing the sailing by a week was very lucky!

JC