Finally took delivery
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Joined: Jul 2002
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From: Sydney/Hong Kong
04 Maybach62, 00 S500, 03 CL600, 03 Range Rover Vogue, 04' Lamborghini Gallardo, 03 CLK500, 04 760Li
You have to put those tax figures into context though. Remember Hong Kong has a 15% flat tax rate on personal income, and no capital gains tax, they have to get some revenue from somewhere, and in the end you are still in a far better position than anyone in Australia or the US paying 48 or 42 cents in the dollar.
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Joined: Apr 2004
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From: Hong Kong
Mercedes E55 AMG 2004
I do agree with Mr. Maybach here on his point. The car tax system may not seem fair to many of us (Myself included) but in terms of income tax and personal gain...HK is a place for the rich. It has always been designed to be like this. When this new tax system was implemented on cars in April 2003....the hit to the car industry was really big.....but eventually people got use to it and cars like the BMW 5 series, Benz W211, Porsche Cayenne are recording record sales........as for the more exotic cars? People eventually figured out that...there are ways around it.....take for example Ferrari 360 Challenge Stradale....HKD 3.1 million with tax...HKD 1.5 million without tax.....So am I better off (if I have a few cars in my garage already, 360 CS will not be my only car) to spend something like HKD20,000 to set up a car trading company with governemnt issued trade plates that I can put on any car that is not register in HK and same myself 1.6million on this car along and not to mention all the other cars I can bring in the same way and use the same trade plates. As long as I only drive them one at a time....and not carry my whole family in it...I'm fine right? I have a friend with a 360 CS, 575 driving in HK like this and now he has ordered also the CLK DTM in RHD....CLK DTM AMG before tax....approx 2.4 million HKD....after tax more than 4 million HKD!!!
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Joined: May 2002
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From: Hong Kong / Jakarta
CLS350
Originally posted by water34
I do agree with Mr. Maybach here on his point. The car tax system may not seem fair to many of us (Myself included) but in terms of income tax and personal gain...HK is a place for the rich. It has always been designed to be like this. When this new tax system was implemented on cars in April 2003....the hit to the car industry was really big.....but eventually people got use to it and cars like the BMW 5 series, Benz W211, Porsche Cayenne are recording record sales........as for the more exotic cars? People eventually figured out that...there are ways around it.....take for example Ferrari 360 Challenge Stradale....HKD 3.1 million with tax...HKD 1.5 million without tax.....So am I better off (if I have a few cars in my garage already, 360 CS will not be my only car) to spend something like HKD20,000 to set up a car trading company with governemnt issued trade plates that I can put on any car that is not register in HK and same myself 1.6million on this car along and not to mention all the other cars I can bring in the same way and use the same trade plates. As long as I only drive them one at a time....and not carry my whole family in it...I'm fine right? I have a friend with a 360 CS, 575 driving in HK like this and now he has ordered also the CLK DTM in RHD....CLK DTM AMG before tax....approx 2.4 million HKD....after tax more than 4 million HKD!!!
I do agree with Mr. Maybach here on his point. The car tax system may not seem fair to many of us (Myself included) but in terms of income tax and personal gain...HK is a place for the rich. It has always been designed to be like this. When this new tax system was implemented on cars in April 2003....the hit to the car industry was really big.....but eventually people got use to it and cars like the BMW 5 series, Benz W211, Porsche Cayenne are recording record sales........as for the more exotic cars? People eventually figured out that...there are ways around it.....take for example Ferrari 360 Challenge Stradale....HKD 3.1 million with tax...HKD 1.5 million without tax.....So am I better off (if I have a few cars in my garage already, 360 CS will not be my only car) to spend something like HKD20,000 to set up a car trading company with governemnt issued trade plates that I can put on any car that is not register in HK and same myself 1.6million on this car along and not to mention all the other cars I can bring in the same way and use the same trade plates. As long as I only drive them one at a time....and not carry my whole family in it...I'm fine right? I have a friend with a 360 CS, 575 driving in HK like this and now he has ordered also the CLK DTM in RHD....CLK DTM AMG before tax....approx 2.4 million HKD....after tax more than 4 million HKD!!!
