CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Japanese Eco Taxes Poised For 2011 Introduction

Japanese Eco Taxes Poised For 2011 Introduction

by Mary Swire, Tax-News.com, Hong Kong

10 December 2010


Japan’s tax commission looks set to propose an environmental tax for introduction from October 2011, to be imposed on petroleum, natural gas, and coal, as part of government efforts to curb the use of polluting fossil fuels. The proposal is expected to feature in the government’s fiscal plan to be presented on December 13.

The proceeds of the tax - estimated to be JPY260bn (USD2.86bn) over the next four years - are to be channelled into environmental initiatives, the Nikkei business daily said, noting that the levy would equate to a tax increase of JPY1,200 on the average household.

According to the paper, taxes on crude oil and petroleum products will be progressively increased until they are around JPY790 per kilolitre; JPY810 per tonne of liquefied natural gas; and JPY700 per tonne of coal.

The introduction of the tax would be consistent with the government’s stated commitment to reducing the country's greenhouse gas emissions to a quarter of that emitted in 1990 by 2020.

TAGS: environment | tax | business | mining | environmental tax | oil and gas | Japan

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »