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China Hikes Tax On Luxury Car Imports

by Mary Swire, Tax-News.com, Hong Kong

02 December 2016


In an effort to "guide reasonable consumption and promote energy conservation," China's State Council has approved a consumption tax on the retail value of ultra-luxury imported cars, such as Ferrari and Rolls-Royce cars.

Cars affected are those sold in China from December 1, 2016, at a price above RMB1.3m (USD189,000), excluding VAT. They will be subject to a tax rate of 10 percent.

The tax on such cars was introduced at the same time as the Communist Party of China adopted new measures against "extravagance" by officials, including not having vehicles exceeding certain standards.

TAGS: environment | tax | value added tax (VAT) | energy | luxury tax | China | tax rates | retail

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