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China hikes tax on supercars amid luxury crackdown

Friday, December 2, 2016 - 05:50

Beijing

CHINA will impose an extra 10 per cent tax on supercars and other luxury models costing 1.3 million yuan (S$269,300) and above, in a bid to rein in lavish spending and to reduce emissions, the ministry of finance says.

The new tax rate will potentially affect pricing for

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