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Environment-friendly Facilities

127.     I propose to provide a 100 per cent profits tax deduction for capital expenditure on environment-friendly machinery and equipment in the first year of purchase to encourage the business community to use such equipment. For environment-friendly installations mainly ancillary to buildings, I propose that the depreciation period be shortened from the usual 25 years to five years. The Inland Revenue Department and the Environmental Protection Department will announce the list of environment-friendly facilities that would qualify for the deduction.




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Last revision date : 14 May, 2008