- Japanese Cabinet proposes VAT reform targeting cross-border digital transactions
- Intermediary digital platform operators to assume responsibility for Japanese VAT on digital content
- Aim is to enhance enforcement and bridge gap between domestic and foreign suppliers
- New system aims to address challenge of enforcing VAT on foreign suppliers
- Government estimates potential elimination of 23.1 billion Japanese yen VAT leakage
- Tax authorities to publicly disclose digital platform operators subject to new regime
- Operators to notify affected foreign suppliers and adjust settlement processes
- Proposed system to come into effect on April 1, 2025 with one-year transition period for adaptation.
Source: globalvatcompliance.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Japan"
- Japan Implements PINT v1.1.1 E-Invoice System Update for Peppol Network Users
- Implementing Certain Tariff-Related Elements of the United States-Japan Agreement
- 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
