China's luxury tax cut is skin deep for Korean cosmetics
Tax decrease may further cement Korean brands' popularity in China, curb overseas travel by Chinese
Add BT as a preferred sourceHong Kong
IN the cosmetics business, things can't always be taken at face value.
Reports last Friday that China's consumption tax for luxury cosmetic products will be reduced to 15 per cent from 30 per cent effective Oct 1 should be good news for South Korean skin-care companies, which have found a wide audience in Asia's largest economy.
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