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Last updated 15 hours ago | 09 December 2010
Japan?s tax commission looks set to propose environmental fee for the introduction of October 2011 to impose the petroleum, natural gas and coal, the Government's efforts to curb the use of fossil fuels of pollutants. The proposal should be included in the budgetary government?s plan which will be presented on 13 December.
The proceeds of taxes - estimated at JPY260bn (USD2.86bn) over the next four years - are to be forwarded in environmental initiatives, said on a daily basis, noting the fee would be tantamount to an increase in taxes for JPY1, Nikkei Business 200 on average household.
According to the document, taxes on oil crude and petroleum products will be gradually increased until they are around JPY790 by 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 reduce the country to a quarter of emitted during the 1990 by 2020 greenhouse gas.
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