China to Place Consumption Tax on More Luxury Goods

Beijing's Sanlitun Shopping Centre | Source: Shutterstock

BEIJING, China — China will widen the scope of its consumption tax to include more luxury goods, the official Xinhua News Agency reported, a sign that some high-end brands may become more expensive for purchasers on the mainland.

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Arnault Lets Them Eat Cake Amid Luxury Hospitality Push

Maison Cheval Blanc - Courchevel | Source: LVMH

PARIS, France — French billionaire Bernard Arnault wants you to spend the night and eat his pastries. After decades of acquiring luxury goods that consumers can drink and wear, the chairman of LVMH Moet Hennessy Louis Vuitton SA last week bought a five-star hotel in St. Barths and in June added a storied Milanese cafe, accelerating his push to meet all his well-heeled clients’ earthly needs.

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