NewsLink - China Launches Supercar Tax To Teach The Rich A Lesson

in #newslink8 years ago

China Launches Supercar Tax To Teach The Rich A Lesson

 China has launched a new additional 10% consumption tax on expensive  cars, dubbed the ‘supercar tax’ by Chinese media. The tax came into  effect yesterday December 1.  The tax affects any car that has a retail price of more than 1.3 million  yuan ($190,000). It comes on top of the standard consumption tax, which  depends on engine size. 

Full news LINK : http://www.forbes.com/sites/tychodefeijter/2016/12/02/china-launches-supercar-tax-to-teach-the-rich-a-lesson/#7d7f9788d316

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