Tokyo's municipal government is believed to be considering implementing tax concessions for companies in the city that invest in energy-saving equipment, with additional plans to bring in tax breaks for the use of more economical cars.
If the two-part eco plan gains approval, then small and medium-sized enterprises in the city would be given up to JPY25bn (USD270m) worth of tax breaks for their investment in energy-saving office equipment.
The scheme could halve the local corporate tax bills of up to 400 companies who invest a sum equal to their tax bill on new energy-saving equipment, such as more efficient boilers and air conditioning systems.
The government is also aiming to implement a plan to make the purchase of "super-low" emission vehicles, such as hybrids, exempt from tax in a bid to encourage a greater uptake of more environmentally friendly cars.
The JPY160m (USD1.72m) budget for this plan would cover the purchase of around 300 cars.
If approved, then both schemes would be introduced in April of this year, and would make Tokyo the first city in Japan to introduce such tax breaks.
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