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Report
No.250303 |
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- Domestic - |
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Government to Eliminate Import Duty on Bio-fuels The Japanese government entered the final stage toward the temporary elimination of an import duty on bio-ETBEs, composite of plant-based bio-ethanol and isobutene petroleum-derived gas, in FY 2008. The tariff rate is 3.1% at present. This is to push forward the increase in import of the fuels as a part of commitments to global warming mitigation. Council on Customs, Tariff, Foreign Exchange and other Transactions (advisory body to Minister of Finance) is expected to include "duty-free" access to bio-ETBE in its FY 2008 report that will be finalized at the middle of December, 2007. The duty-free access will be available for one year, which is likely to be extended each year. Bio-ETBE-blended gasoline, which costs 6 or 7 yen higher per liter than regular gasoline, is sold at the same price as regular gas owing to a subsidy from Ministry of Economy, Trade and Industry and to a burden on oil companies. |
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