Japan eyes environment tax from October 2011

Japan’s tax commission will propose the introduction of an environment tax from October 2011 to help curb greenhouse gas emissions, the Nikkei business daily said. The panel will call for a gradual increase in the fuel tax, the daily reported. Taxes on crude oil and petroleum products will ultimately go up some 790 yen (US$9.53) per kiloliter. The tax is expected to boost government revenues by ¥240 billion (US$2.9 billion) in four years. Once the levy is fully in place, the environment ministry expects the tax burden for each household to increase by ¥1,207 (US$14.55) a year. (December 9, 2010)