New Taxation Rules: First Steps to Building the Great Mall of China?
Memo #46 – In September 2010, the People’s Republic of China (PRC) began strictly enforcing a new taxation rule. The new rule (Notice No.54 of 2010) claims to standardize and bring transparency to PRC borders. It will tax luxury items and electronics, limit quantities of popular household items purchased abroad, and, in effect, encourage middle and upper class Chinese citizens to shop at home.