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Chapter: | 112
 | Title: | Inland Revenue Ordinance | Gazette Number: | E.R. 1 of 2012 |
| Section: | 16K | Heading: | Environmental protection facilities owned as at commencement date | Version Date: | 09/02/2012 |
(1) Subject to subsection (7), if, immediately before the commencement date, a person owned and had in use any machinery or plant that is environmental protection machinery or any vehicle that is an environment-friendly vehicle, that person is, for the purposes of section 16I, deemed to have incurred, on the commencement date, specified capital expenditure in relation to that machinery, plant or vehicle. (Amended 10 of 2010 s. 6)
(2) Subject to subsection (7), if, immediately before the commencement date, a person owned and had in use any machinery or plant that would otherwise have qualified as environmental protection machinery but for the fact that that machinery or plant does not comply with the registration or other requirements under Part 1 of Schedule 17, that person shall, for the purposes of section 16I, be deemed to have incurred specified capital expenditure in relation to that machinery or plant on the date on which the registration or other requirements are complied with.
(3) The specified capital expenditure deemed to have been incurred by a person in relation to any machinery, plant or vehicle under subsection (1) or (2) shall be the capital expenditure incurred on the provision of that machinery, plant or vehicle reduced by the aggregate of— (Amended 10 of 2010 s. 6)
- (a) the amount of the initial allowances, if any, under section 37(1), 37A(1) or 39B(1); and
(b) the amount of the annual allowances, if any, under section 37(2), 37A(2) or 39B(2), (Amended 10 of 2010 s. 6)
made to the person in respect of the capital expenditure in all prior years of assessment.
- (a) immediately before the commencement date, a person is entitled to an interest in any building or structure that is an environmental protection installation; and
(b) that interest is the relevant interest in relation to the capital expenditure incurred on the construction of that building or structure,
that person shall, for the purposes of section 16I, be deemed to have incurred, on the commencement date, specified capital expenditure in relation to that building or structure.
- (a) immediately before the commencement date, a person is entitled to an interest in any building or structure that would otherwise have qualified as an environmental protection installation but for the fact that that building or structure does not comply with the registration requirement under Part 2 of Schedule 17; and
(b) that interest is the relevant interest in relation to the capital expenditure incurred on the construction of that building or structure,
that person shall, for the purposes of section 16I, be deemed to have incurred specified capital expenditure in relation to that building or structure on the date on which the registration requirement is complied with.
(7) Where a person is deemed to have incurred specified capital expenditure under any of subsections (1), (2), (4) and (5) (referred to in this subsection as the relevant provision) in the basis period for any year of assessment, the relevant provision applies to him only if he, at any time within one month after the date on which a notice of the assessment made in respect of that year of assessment under section 59 is given under section 62, elects in writing that the relevant provision shall so apply to him.
(8) An election under subsection (7), once made, is irrevocable.
(9) In this section, commencement date (生效日期)—
- (a) in relation to any machinery, plant, building or structure, means 27 June 2008;
(b) in relation to any vehicle, means the date on which the Inland Revenue (Amendment) (No. 3) Ordinance 2010 (10 of 2010) came into operation. (Added 10 of 2010 s. 6)