Tax break tocontinue for eco-friendly cars

Jiji Press

14:41 JST, December 13, 2022

TOKYO (Jiji Press) — The Japanese government and ruling parties plan to extend the tax break for eco-friendly cars for three years, continuing to cover 70% of all new automobiles, Jiji Press learned Monday.

The move to maintain the reduction of automobile weight tax comes at a time when the auto industry is struggling with an unclear business outlook due to output cuts, triggered by soaring materials prices and semiconductor shortages.

The plan is expected to be included in the ruling camp’s fiscal 2023 tax system reform package to be decided Friday.