Policy shifts may focus on luxuries, tobacco, polluters
By Jiang Xueqing | China Daily | Updated: 2016-09-08 07:08
Industry experts say that the main purpose of the much-discussed possible consumption tax overhaul is to adapt to the upgrading of the consumption structure in China.
Certain cosmetics and tires that used to be regarded as luxury goods have become everyday items for the public, leading many experts to recommend tax cuts on cheaper cosmetics, while raising taxes on luxury products and activities, including tobacco and golf.
Products that are energy-intensive or highly polluting could also be included in the scope of consumption tax collection.
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