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Claim Your Tax Refund in Just One Year for Your BEAM Plus Projects’ Energy Saving Installations

01 Mar 2018

The 2018-19 Budget proposed an enhancement on tax concessions for capital expenditure incurred in procuring eligible energy efficient building installations and renewable energy devices - tax deduction can be claimed in full in one year instead of the current time frame of five years.

Mr Wong Kam-sing, Secretary for the Environment, said, “Providing an enhanced tax incentive for renewable energy and energy-efficient building installations will further encourage adoption of renewable energy and energy saving in the community.”

All types of new and existing buildings / premises (not limited to prescribed buildings) with such installations could enjoy profits tax deduction upon achievement of specific BEAM Plus rating and registration under the Energy Efficiency Registration Scheme for Buildings (EERSB) administered by the Electrical and Mechanical Services Department (EMSD). For requirement details, please refer to EMSD’s website and the Government’s press release.

The HKGBC welcomes the new arrangement as it provides a strong financial incentive for projects, in particular existing buildings, to improve energy efficiency and participate in BEAM Plus assessment. The proposal also brings us closer to the target of reducing Hong Kong's energy intensity by 40% by 2025 set in the Energy Saving Plan for Hong Kong's Built Environment 2015~2025+.

We will continuously collaborate with the Government and different industry stakeholders to promote energy efficiency and green building technologies for achieving the target and building a greener Hong Kong.