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BANGKOK 23 April 2019 14:53
Thaivisa Web Content Team

Rich Chinese Kid Complains About Taxes After Buying $3.8 Million Bugatti With Dad’s Money

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A Chinese tycoon’s son recently took to social media to complain about Canadian taxes after buying a Bugatti Chiron using his dad’s Union Pay credit card. Unsurprisingly, Ding Chen deleted his Instagram shortly after he made his “complaint.”

 

Ding Chen, son of businessman Chen Mailin, expressed his feelings about the $680,000 in taxes he incurred for purchasing the new supercar priced at 5.1 million Canadian dollars ($3.8 million) in Vancouver.

 

Chen posted a picture of the invoice on his Instagram stories, saying that the amount made his “heart feel tired.”

 

The image, which had been edited to hide most figures except the taxes, was posted around noon on Thursday.

 

According to the SCMP, the 5% federal goods and services tax of 210,404.25 Canadian dollars ($157,400) indicate that the approximate pre-tax price of the Chiron was around 4.2 million Canadian dollars($3.1 million).


The total purchase price is estimated to be about C$5.1 million with the additional of 697,939 Canadian dollars ($522,100) in provincial taxes.  

 

The included 1.7 % Union Pay fee would already amount to 71,400 Canadian dollars ($53,540) if imposed on the pre-tax price.

 

Based on the visible details on the picture, the bill was issued to Chen Mailin from Vancouver Bugatti dealer Weissach Group. The address of his home on Vancouver’s Drummond Drive was also partially readable.

 

The mansion on the address was bought by Chen Mailin in 2015 for $51.8 million Canadian dollars ($40 million). It was reportedly the biggest residential transaction ever conducted in Canada at the time.

 

Full article
 

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Posted (edited)

Maybe thats how the mega rich get rich...rant on rags to attain riches...

Edited by observer90210

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Now I know how the Thai's feel with me being here (all warm and fuzzy inside).  Thanks for the Canuck contribution Mr. Chen... 🤑

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And Phil Michelson the pro golfer lamented the high California taxes, social security taxes, federal taxes etc.  which result in him taking home less than 1/2 of his gross income.  uh huh.  And now imagine how so many of the blue collar working class has to deal with similar things, but without the high gross income that could still result in millions net.

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It's daddy's money, so why is the brat complaining? It's just a childish rant from someone who has no experience in life. He's been given it all on a gold platter and has no concept whatsoever of giving back to society. He thinks that people of his status shouldn't have to do there part in paying into the system, That's only for the lowly suckers. 

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He'll be on another rant when he discovers how much it costs to run .. And repair should he stack or blow it .. 

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