Japan will introduce from October 1st, 2023, a new Japan Consumption Tax (JCT) system. Under the new system, issuers of invoices will have to register with tax office to get a consumption tax ID that will need to be printed on invoices compliant with the new system called “qualified invoices”. Consumption tax claim on purchases (input consumption tax) will not be possible anymore if invoices are not qualified with means that they do not match requested format and do not bear the consumption tax ID number of the JCT registered supplier.
Source: japanconsult.com
Latest Posts in "Japan"
- Japan Updates E-Invoice System: PINT v1.1.1 Now in Effect
- Fact Sheet: President Donald J. Trump Secures Unprecedented U.S.–Japan Strategic Trade and Investment Agreement
- Moody’s: Japan’s Tax Cut Impact on Debt Rating Hinges on Scope, Magnitude, Permanence
- Japan’s Government Deems Sales Tax Cut Inappropriate Despite Election Setback, Says Finance Minister Kato
- Japanese Political Leaders Make Final Appeals Before House of Councillors Election, Debate Consumption Tax