Price of imported cars cause hardships for Chinese people — A car with a fixed price of 270,000 RMB costs 300,000 RMB by the time it arrives in China, 350,000 RMB after the 17% value-added tax, 440,000 RMB after the 25% tariff, and 540,000 RMB after the seller takes his profit of 100,000 RMB. The customer tax is 40% of this sum, which makes the price at least 900,000 RMB. Then there’s a sales tax of approximately 80,000 RMB. After all that, a car that can be bought for 270,000 RMB in other countries costs us 1,000,000 RMB after taxes, even though our income is far lower!
January 26, 2015
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SR: The Week’s China Reads
Every week, China Program’s Senior Advisor Dr. Robert A. Kapp compiles a reading list and provides commentary, for you to better understand China.
Robert A. Kapp is senior advisor to the China Program at the Carter Center. He has been principal of Robert A. Kapp and Associates, a business consulting firm, since 2004. From 1994 through 2004 he served as President of the United States-China Business Council…