NewsLink - China Launches Supercar Tax To Teach The Rich A Lesson
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.
This post has been ranked within the top 50 most undervalued posts in the second half of Dec 03. We estimate that this post is undervalued by $10.05 as compared to a scenario in which every voter had an equal say.
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