China implements 10% extra tax on "super cars"

China implements 10% extra tax on "super cars"The tax goes into effect on Thursday, BBC.

China has introduced an additional 10% tax on "super cars", including Ferrari, Bentley, Aston Martin and Rolls-Royce.

The tax, affecting cars that cost more than 1.3m yuan ($189,000; £151,024), is aimed at curbing lavish spending and reducing emissions, authorities said.

It is part of a wider effort by Chinese authorities against flashy demonstrations of wealth, which has already hit other luxury brands.

"In order to guide rational consumption, and promote energy-saving emission reductions, the state Council has approved an additional consumption levy on ultra-luxury cars," a statement by the Ministry of Finance said.

The tax goes into effect on Thursday, although observers say it is unlikely to be a major deterrent for the super rich.
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