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Luxury crackdown sees China's 'super rich' taxed extra for 'super cars'

Luxury crackdown sees China's 'super rich' taxed extra for 'super cars'
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By Reuters
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Communist China’s super rich are to be taxed an extra ten percent on so-called super cars.

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Communist China’s super rich are to be taxed an extra ten percent on so-called super cars.

The tax affects cars costing more than 1.3 million yuan – that’s around 177,700 euros – and will apply to brands such as Ferrari, Bentley, Aston Martin and Rolls-Royce.

It comes amid a general crackdown on flashy demonstrations of wealth, spearheaded by Chinese President Xi Jinping.

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