China may tax more luxury goods, expand property tax

BEIJING: China plans to levy consumption taxes on more luxury goods and may expand a pilot property tax beyond its current testbeds of Shanghai and Chongqing as it pushes ahead plans to reform the world's second-largest economy.

The official Xinhua news agency also cited Finance Minister Lou Jiwei as saying on Wednesday that China would levy consumption tax on goods that cause severe environmental pollution and over-exploitation of resources.