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May
2013

Luxury tax

Recent rumours are that a luxury consumption tax on imported luxury cars will be introduced, the most popular one being that all the cars with a price tags above 1.7 Million RMB (without VAT) will be eligible for an additional 20% luxury tax. According to some insiders, the sales volume of luxury cars with a price tag over 1.7 Million RMB in China is less than 5000, so the rumoured tax will not affect much of the market, but perhaps it will affect consumer psychology and the luxury car market development. ……
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