Japan to Give Tax Breaks to Domestic EV, Chip Production: Nikkei

Japan’s government and ruling parties plan to give tax breaks to electric vehicle and semiconductor makers based on how much production they carry out domestically, Nikkei reports without attribution.

• Tax breaks would apply to 5 areas, also including green steel, green chemicals and sustainable aviation fuel
• Ministry of Economy, Trade and Industry is pushing for the tax breaks to last ~10 years
• Details to be laid out in the ruling parties’ tax system reforms for fiscal 2024, due next month

To contact the reporter on this story:
Ryotaro Nakamaru in Tokyo at rnakamaru1@bloomberg.net

To contact the editors responsible for this ...