Tony Sagami - Veteran investment advisor and a leading expert on Asian markets.

China: big tax on big cars

by Tony Sagami on August 14, 2008

in Housing Market

The government’s decision to mandate even/odd driving days in Beijing has removed hundreds of thousands of cars off theroad. The traffic, while still horrendous, is much better than I have seen the past.

The Chinese government wants to keep it that way. Today, it announced a huge increase in the sales tax on large vehicles.

The sales tax on cars with engines larger than four liters will be doubled to 40% while cars with engine between threeto four liters will rise from 15% to 25%.

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