A new, mandatory consumption tax invoicing system will begin in Japan on 1 October 2023. To allow businesses time to implement the new invoicing system, application of it will start four years after the introduction of multiple consumption tax rates. When the new invoicing system begins it will be called the “tax-qualified invoice method”. This method will be required for Japanese Consumption Tax (JCT) payers to preserve tax-qualified invoices issued by registered suppliers for tax credits.
Source BDO
Latest Posts in "Japan"
- Japan to Shift to Refund-Based Tax-Free Shopping for Tourists from November 2026
- OECD Chief Warns Japan’s Zero Food Tax Plan Is Costly and Ineffective
- PM Takaichi Slams Japan’s Rigid Cash Register Systems as Embarrassing Amid Tax Cut Debate
- Japan Considers 1% Food Tax Cut Amid Technical Hurdles to Zero-Rate Plan
- Japan Considers 1% Food Tax Instead of 0% Amid System Modification Challenges
