| TOP |
| 5th Report of Market Access Ombudsman Council (March 17, 1998) |
1. Complainant: Tokyo Chamber of Commerce
2. Ministry concerned:Ministry of Finance, Ministry of International Trade and Industry
3. Complaint:
At present, the import report, external payment on trade report, etc., are submitted in every case that involving ¥5,000,000 or more, but these reports should be abolished or the reporting burden be substantially eased (the amount required to be reported should be raised.).
4. Corresponding Policy of the Ministries concerned:
(1) The report on payment or receipt concerning invisible trade is indispensable to compile balance of payments statistics and is difficult to be abolished. Raising the minimum amount required to be reported will be considered, if no difficulty is found in maintaining statistical accuracy in the new reporting system under the revised Foreign Exchange and Foreign Trade Control Law (it's revised name called "Foreign exchange and Foreign Trade Law") that has been in effect since April of 1998.
The revision of the Foreign Exchange and Foreign Trade Control Law made this time provides for an efficient and effective ex-post facto reporting system that pertains to cross-border capital transactions and the like. From this perspective, means related to report styles, submission formats, and the like are currently under consideration for sufficiently reducing the burden on those making reports.
[Ministry of Finance]
(2) The import report is to be abolished on March 31, 1998.
(3) The external payment on trade and other reports are to be abolished on March 31, 1998.
[MITI]
5. Remarks
The complainant's opinion is as follows.
"I am satisfied with the policy as it now stands."