December 13, 2002
JAMA Voices Support for Fiscal 2003 Tax Reforms
Yoshihide Munekuni, Chairman
The Japan Automobile Manufacturers Association (JAMA) welcomes many aspects of the tax reform package outlined for fiscal year 2003, an initiative taken against the background of Japan's continued harsh economic conditions resulting from the country's prolonged recession. JAMA views as particularly timely and effective the tax cuts afforded to corporate research and development and capital investment; the "greening" of automobile taxation through a scheme favoring low-emission vehicles; the extension of special treatment measures targeting high fuel economy/low-emission vehicles; and the establishment of similar favorable measures for low PM (particulate matter) vehicles.
We look forward to continued progress in the revision of Japan's tax code to reflect the perspective of automobile users, who represent a major taxpayer base for the nation. Specifically, we favor further simplification as well as reduction in automobile taxes and new initiatives with respect to the earmarking of special revenue sources for road expenditures, among other improvements being sought to the existing taxation system.
