China to lower price threshold for collecting consumption taxes on luxury cars
Starting July 20, such taxes will be collected for the sale of cars with retail prices of 900,000 yuan ($125,348) or above. Existing rules, from 2016, set the threshold at 1.3 million yuan.
Used ultra-luxury vehicles will be exempt from consumption taxes, the statement said.
($1 = 7.1800 Chinese yuan renminbi)
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