China introduces 10% extra tax on 'super cars'

China introduces 10% extra tax on 'super cars'
 

China has introduced an additional 10% tax on "super cars", including Ferrari, Bentley, Aston Martin and Rolls-Royce.
The tax, affecting cars that cost more than 1.3m yuan ($189,000; £151,024), is aimed at curbing lavish spending and reducing emissions, authorities said.
It is part of a wider effort by Chinese authorities against flashy demonstrations of wealth, which has already hit other luxury brands.
China is a key market for high-end carmakers.
Automakers have in recent years increasingly tailored their luxury models to appeal to Chinese buyers.
Both Rolls-Royce and Aston... read more

 
1 December 2016 in World News, Views: 47
Source: BBC
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