The U.S. government has issued final guidelines for the Inflation Reduction Act (IRA) Advanced Manufacturing Production Tax Credit.
The Ministry of Trade, Industry and Energy said it will take effect on December 27 following a decision by the U.S. Treasury Department.
The tax credit clause will be applied until 2032, and the target items are battery parts, solar and wind power parts, and core minerals.
The Ministry of Industry predicted that the scope of the deduction will be expanded as it will be somewhat easier for battery companies to meet the module tax credit requirements.
It also added that for battery materials and core minerals, direct and indirect material costs and raw material extraction costs are included in the production cost calculation, which is expected to benefit battery material companies.
The Advanced Manufacturing Tax Credit is a system introduced to encourage the production and sale of products using advanced manufacturing technologies such as batteries, solar and core minerals in the United States.
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