China explores tax changes to build luxury sales

04/11/2012 | Wall Street Journal, The

One government agency in China wants to drop a 30% sales tax on luxury goods to keep more of its wealthy shoppers at home while another worries that the proposal will take too big a bite out of tax revenue. A compromise proposal would create special luxury zones with lower tax rates, a move that would potentially hurt luxury sales in Hong Kong, which currently attracts many of mainland China's wealthy consumers.

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