In the News
China adds a 10% tax on "super cars"
4th December 2016
The Chinese have imposed a tax on 'super cars' - a seemingly random tax on luxury goods. It's difficult to see why the tax has been imposed other than as a political move designed to be seen to be tackling high inequality in the country.
The official reason for the tax is "to guide rational consumption, and promote energy-saving emission reductions, the state Council has approved an additional consumption levy on ultra-luxury cars". Laughable, isn't it. One suspects that political elite will find ways of evading the tax.
"Travel without pomp" says Beijing as it imposes new tax on super-luxury cars such as Ferraris and Bentleys https://t.co/qPZvUjgIXG
— Financial Times (@FT) December 1, 2016
China hikes tax on 'super cars' amid luxury crackdown https://t.co/R08CEdXNlz
— Reuters China (@ReutersChina) December 1, 2016
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