How to Meet ACP / IOR Requirements to Deduct Import Consumption Taxes when Exporting to Japan
Summary Starting October 1, 2023, the requirements to deduct import consumption taxes that companies pay when exporting to Japan have changed. In order to deduct import consumption taxes that you paid in your Japanese consumption tax (JCT) return, you will need to be the Importer of Record (IOR). If you do not have a physical […]
Japanese Tax Authorities Releases FAQ (Ver8) on Crypto Taxes
Acquisition Cost Method Permitted for Specific Self-Issued Crypto Assets On December 25, 2023, the National Tax Agency (NTA) published a guidance titled “Tax Treatment of Crypto Assets (Information)”. This is the seventh time (the first was in 2017) that the NTA has officially expressed its views on calculating taxes for cryptocurrency in an FAQ format. […]
The JCT Qualified Invoice Issuer Registration Deadline has been Extended
It has been officially announced that the deadline for the Japanese Consumption Tax Qualified Invoice Issuer registration has been extended. The invoice system is scheduled to start on October 1, 2023. In order to become a qualified invoice issuer, it was necessary to complete the registration application by March 31, 2023. However, the deadline has […]