These is how China fights the rich: Through the automobile industry


You want to be rich in China? That’s fine, but if you want to show off with your new expensive car than you will have to pay taxes for it!

In fact, China has decided to charge 10 % of taxes on the expensive cars. Some of those are Ferrari, Bentley, Aston Martin and Rolls-Royce.

The taxes are on those that cost more than 1.3 million jen (189 000 dollars). Its goal is to combat too much consumptionand reduce emissions. This is a part of Chinese way of fight against demonstrations of wealth, and these these decisions were already made for some other luxury brads.

China is a key market for the most expensive cars. The producers have even adjusted some of their cas in orderto avoid China’s wealth people’s complaints.

The Minister of Finance in China said: “In order to preserve and promote the rational use of energy conservation and emission reductions, the State Council has accepted and adopted an additional tax on luxury cars… Travel without fanfare, minimize the impact in public life and do not have vehicles that exceed the standard”.

The goal of the Chienes president, however, is to reduce the gap between rich and poor.