Consider narrowing down the scope of adjustment by extending the "eco-car tax reduction" period

Adjusted by extending the "eco-car tax reduction" period Consider narrowing down the application target November 9, 5:45

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The government and the ruling party are planning to make adjustments to extend the period of "eco-car tax reduction" applied to fuel-efficient cars toward the tax reform next year.

On the other hand, as part of our decarbonization efforts, we are considering narrowing down the scope of tax cuts to more fuel-efficient vehicles.

The "eco-car tax exemption" is a measure to reduce the tax rate of the automobile weight tax levied at the time of vehicle inspection for fuel-efficient vehicles, and the deadline for application is the end of April next year.

The government and the ruling party are planning to extend the deadline in order to support automobile manufacturers that have been hit by the new coronavirus in preparation for the tax reform next year.

On the other hand, as part of our decarbonization efforts, we are considering narrowing down the scope of tax exemptions and tax cuts to electric vehicles and more fuel-efficient vehicles.

This may reduce the range of tax cuts for some clean diesel and gasoline vehicles, or may exclude them from the tax cuts.

The government and the ruling party have decided to carefully discuss not to narrow down the types of vehicles subject to tax reduction in order to reduce the impact on automobile sales.