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Japan’s consumption tax reform will be effective from 1 October 2023 – Implementation considerations

Effective from October 1, 2023, the Japanese consumption tax system will be significantly reformed with the introduction of a new JCT invoice system. This tax reform serves as a turning point, becoming a VAT system similar to that in Europe, from the following three perspectives:

  1. Consumption tax ID number
  2. The JCT Invoice
  3. Eligibility of consumption tax credit for customers/buyers

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