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Thursday, 1 December 2016

China Introduces 10% Tax on 'Super Cars'; When Will Nigeria Do Same?

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.

In Nigeria, the government is yet to do anything on Politicians and public officials using exotic cars and doing show-off example is Senator Dino Melaye, representing Kogi west senatorial district but instead the telecom regulator, NCC, is proposing increase in internet tariff.

The Central Bank Governor, Godwin Emefiele also proposed a certain percentage tax for calls beyond every 3 minutes while the First Inland Revenue Service is about to include Valeue Added Tax on every international passport.

In China, authorities say is part of efforts to go against flashy demonstrations of wealth, which has already hit other luxury brands.

China is a key market for high-end carmakers.

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