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Abstract
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Article Information:
Parallel Factor Analysis in Dual-class Tax Impacts of Luxury Food Products: An Economic Research from Macro Perspective
Qishen Zhou, Yalan Xu, Ting Wang and Lipeng Chen
Corresponding Author: Qishen Zhou
Submitted: September 13, 2014
Accepted: October 12, 2014
Published: March 15, 2015 |
Abstract:
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This study aims to investigate the tax impacts of luxury food products in dual-class from macro perspective using the parallel factor analysis. Along with the rapid economic development of China, the growing purchasing power of Chinese residents has been accelerated. This can be seen particularly in the luxury food products market. In the parallel factor analysis on China new consumption tax, it indicates that the adjusted taxable items of consumption tax could narrow the gap between rich and poor and to promote social equity. The taxation system in China might affect the general public when targeting the heavy taxes on the rich. Changes of rational consumers' choices will result in a loss of tax revenues which will lead to a lack of financial support to the fair income distribution. What is more, the atrophy of the luxury food products market brought by the luxury tax may curb the growth and development of domestic luxury manufacturing industry. Hence, the finding of this study suggests that the government should carefully choose the tax base, tax rates and reasonable tax-price mode combined with the features specifically demonstrated in the Chinese market.
Key words: Food products, parallel factor analysis, tax impacts, , , ,
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Cite this Reference:
Qishen Zhou, Yalan Xu, Ting Wang and Lipeng Chen, . Parallel Factor Analysis in Dual-class Tax Impacts of Luxury Food Products: An Economic Research from Macro Perspective. Advance Journal of Food Science and Technology, (8): 597-601.
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ISSN (Online): 2042-4876
ISSN (Print): 2042-4868 |
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