METI’s Major Requests for FY2013 Tax Reform
METI, Japan: The Ministry of Economy, Trade and Industry (METI) announced the major requests for FY2013 Tax Reform. One of the requests is achieving a new energy mix and encouraging strategic procurement of resources and fuels. It includes; Expansion of the introduction of renewable energy sources and cogeneration systems, and enhancement of drastic energysaving measures (national tax and local tax); Extension of the period and expansion of the scope of the depletion allowance system (national tax); and Creation of a tax refund system regarding petroleum and coal tax on non-product gas generated in the oil refining process (national tax). (Source: http://www.meti.go.jp/english/aboutmeti/policy/fy2013/pdf/120920budget.pdf)