When Vancouver-based jeweller and magazine publisher Pasquale Cusano opened shop in 1978, he mostly catered to Europeans, but over the years his customer base shifted towards wealthy Chinese with an insatiable demand for luxury watches worth up to US$1 million apiece.With foreign fortunes flooding in, Cusano’s Montecristo Jewellers began hearing complaints from customers about taxes on big ticket items they planned to take back to China as gifts. Unlike the European Union with its value-added…

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