The Japanese government is exploring expanding tax incentives to encourage companies to invest in carbon-reducing technologies. These incentives will apply to capital expenditure in different areas, including power semiconductors, energy storage batteries and wind power equipment.
Currently, companies investing in these sectors are eligible for up to a 10% reduction in enterprise income tax. However, companies are calling for more long-term support to further stimulate investment in carbon-reducing technologies. The Ministry of
Economy, Trade and Industry will be responsible for developing the details of these expanded tax incentives. The department plans to introduce relevant legislation to Parliament next year, demonstrating the government's commitment to promoting the development of carbon-reducing technologies.
By offering tax incentives, the government aims to encourage more companies to invest in technologies that reduce carbon emissions. This coincides with Japan's ambition to accelerate its transition to a more sustainable and low-carbon economy. Expanding tax incentives
for companies that invest in carbon-reducing technologies will not only provide financial benefits, but will also incentivize research, development, and innovation in this area. This initiative reflects the Government's recognition of the importance of carbon reduction in the fight against climate change and its commitment to support the necessary investments.
In general, Japan's tax incentives to expand investment in carbon reduction technologies reflect a positive attitude towards climate change and support for sustainable industrial development.
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