Minicars Don't Get Special Tax Treatment: JAMA Chairman

TOKYO (Nikkei)--Japanese minicars do not receive preferential tax treatment, Japan Automobile Manufacturers Association Chairman Akio Toyoda said Thursday in refuting U.S. claims from Trans-Pacific Partnership dialogue.

"Minicars are developed to meet emissions regulations, and they are not exported," Toyoda, who is also president of Toyota Motor Corp. (7203), said during a Thursday press conference. In that context, the taxation framework for minivehicles is "not what I would consider to be special treatment."

Toyoda is pleased that Japan will participate in TPP negotiations. He is optimistic about the trade talks, saying that if Japan joins the TPP, "it will be linked with a third of the global economic zones."

(The Nikkei, March 22 morning edition)

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