Since World War II the Japanese economy has been spectacularly successful. The sources of this success have been the subject of considerable debate. The Government's use of taxation policy in assisting favoured industries has been identified. Whilst there are mixed views as to the significance...

As part of its response to climate change the 1997 Kyoto Protocol envisages the employment of emissions trading schemes (“ETS”) to provide a market based incentive to reduce emissions and to engage in carbon sequestration activities. Such schemes would also serve to encourage the creation of...

The Japanese income tax system was redesigned following World War II. As such it has features of the systems of both Europe and the United States, although in many respects it is quite unique. Whilst it arguably contributed to Japan's meteoric rise to the status of an economic superpower, little...

With Japan's withdrawal from the Kyoto Protocol it looked to contributing to reductions in global emissions through bilateral agreements with other countries. The mechanism used is termed the Bilateral Credit Mechanism. It borrows from the Kyoto Clean Development Mechanism but with some...

The Australian and Japanese Governments have both come to appreciate that corporate reorganisations are necessary for an efficient economy and are therefore to be encouraged. Thus, tax relief has been provided in both countries; though only very recently in Japan. Intra-group transactions under...

In 2010 the Japanese Government made substantial commitments to the reduction in greenhouse gas emissions. In particular it proposed a 25% reduction on 1990 levels by 2020 and an 80% reduction by 2050. At the forefront of this policy was to be an additional (carbon) tax on fossil fuels,...

As part of its response to climate change the 1997 Kyoto Protocol envisages a global scheme with national emissions trading schemes (“ETS”) linked to form an international market for carbon. In 2010 the Tokyo Metropolitan Government (“TMG”) established an ETS. This regime has some unique...

Emissions reductions can be promoted through regulatory measures but most economists support placing a price on carbon as a complementary and, possibly, more effective measure. A pricing measure typically takes the form of either (or both) a carbon tax or an emissions trading scheme (ETS)....