Submissions
 
Submission No. 8 Back to full list of submissions
Download in either PDF or RTF format

 

December 22, 1998

The Secretary
Review of Business Taxation
Department of the Treasury
Parkes Place
Canberra ACT 2600

 

Dear Sir,

I am writing to you on behalf of the Federation of Japan Chambers of

Commerce and Industry in Australia (FJCCI) in relation to issues contained

in the first discussion paper published by the Ralph Committee's Review of

business taxation-A Strong Foundation.

The FJCCI represents the business interests of subsidiaries and branches of

Japanese companies in Australia. Japanese companies play an important role

in Australia's economy, facilitating international trade and making

significant business investment.

Broadly speaking, the FJCCI welcomes the Federal governments' initiative to

review and reform the business taxation regime with a view to making it a

fairer and simpler system. In addition, we are hopeful that the reforms

will lead to greater economic growth for Australia.

However, we would stress to the Ralph Committee the importance of

maintaining and enhancing Australia as a destination for foreign direct

investment. In designing a strong foundation for taxation reform, we submit

that the Committee should keep in mind the need to encourage, rather than

impede, foreign direct investment. For example, we would direct the

Committee to consider the implications for foreign direct investment of the

proposed change to a fully franked dividend system.

We hope that you will fully consider our submission and wait in

anticipation for your final report.

Yours sincerely,

 

 

Toru Obata

Chairman, Federation of Japan Chambers of Commerce and Industry in Australia

President, Japan Chamber of Commerce and Industry, Sydney Inc.