|Submission No. 8||Back to full list of submissions|
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December 22, 1998
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.
Chairman, Federation of Japan Chambers of Commerce and Industry in Australia
President, Japan Chamber of Commerce and Industry, Sydney Inc.