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BRIEF-Baic Motor Corp updates on new regulation on super luxury cars
December 1, 2016 / 2:26 PM / a year ago

BRIEF-Baic Motor Corp updates on new regulation on super luxury cars

Dec 1 (Reuters) - Baic Motor Corp Ltd

* “Company expects that company’s investment income from benz sales will not be affected by aforesaid new regulation”

* Ministry of finance and state administration of taxation promulgated “notice on imposing additional consumption tax on super-luxury cars”

* Products currently manufactured by co under brand names of Beijing Benz, Beijing Hyundai and Beijing Brand do not fall into category of super-luxury cars as stipulated in notice Source text for Eikon: Further company coverage:

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