China Introduces Condom Tax for the First Time in 30 Years to Stimulate Birth Rate, - Bloomberg
Illustrative photo In order to combat the declining birth rate, which threatens economic growth, Beijing is implementing this tax measure. The new tax will come into effect in January. As Bloomberg points out, according to the latest amendments to the value-added tax (VAT) law, a 13% levy will be imposed on goods that have not been subject to VAT since 1993, when China had a strict population control policy based on the principle of "one child per family."