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Good News! Profits Tax Concession related to BEAM Plus NB, EB and BI

04 Jan 2018

With effect from 1 January 2018, all types of new and existing buildings / premises achieving “Final Bronze” rating (or “Satisfactory” grade under BEAM Plus Existing Buildings - Selective Scheme - Energy Use) or above under BEAM Plus New Buildings, BEAM Plus Existing Buildings and BEAM Plus Interiors are eligible to register under The Hong Kong Energy Efficiency Registration Scheme for Buildings (HKEERSB), operated by the Electrical and Mechanical Services Department (EMSD). Application for the HKEERSB certification shall be made within 24 months after the issuance of the BEAM Plus Final Assessment Certificate.
The HKEERSB certified building / premises will be awarded with a validity period of five years from the date of the certificate issued. Capital expenditure incurred on the construction of energy efficient building installations registered under the HKEERSB scheme is eligible for accelerated tax deduction under profits tax.  This means that for this kind of installations, the depreciation period is allowed to be shortened from the usual 25 years to 5 years.

The scheme is voluntary based and participation is free of charge. For details, please visit EMSD’s website.