In the wake of the Prada IPO, where some investors balked at having to pay Italian taxes on their share purchases, according to Guangzhou Daily the government has announced plans to cut their taxes on luxury imports to the mainland by 2-15%. Brands all over Europe must be celebrating. Ooooooh the possibilities! The mind boggles.
© The Financial Times Ltd 2016 FT and 'Financial Times' are trademarks of The Financial Times Ltd.