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How to Meet ACP / IOR Requirements to Deduct Import Consumption Taxes when Exporting to Japan

Super Ace
Posted: 2024-04-01
Last updated: 2024-04-01

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…

Japanese Tax Authorities Releases FAQ (Ver8) on Crypto Taxes

Super Ace
Posted: 2024-01-21
Last updated: 2024-09-24

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 JCT Qualified Invoice Issuer Registration Deadline has been Extended

Super Ace
Posted: 2023-03-31
Last updated: 2023-07-20

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,…

Japanese Tax Authorities Releases FAQ (Ver7) on Crypto Taxes

Kensaku Kimura
Posted: 2023-02-25
Last updated: 2023-02-25

Crypto Traders Beware! Significant Changes In Determining Whether Income is Business Related or Not On December 22, 2022, the National Tax Agency (NTA) published a guidance titled “Tax Treatment of Crypto Assets (Information)”. This is the seventh time (the…

Japanese Tax Authorities Release FAQ – Year End Mark-to-Market of Cryptos Held by Entities

Kensaku Kimura
Posted: 2023-01-22
Last updated: 2023-02-06

This FAQ Focuses on Topics Related to Year End Mark-to-Market of Cryptos for Corporation Tax Purposes On January 20, 2023, the National Tax Agency (NTA) published a guidance titled “Year End Mark-to-Market Treatment of Cryptocurrencies Held by Entities (Information)”….

Japanese Tax Authorities Releases FAQ on NFT Taxes

Kensaku Kimura
Posted: 2023-01-16
Last updated: 2023-02-06

Some of the existing questions about calculating taxes for NFTs have been clarified On January 13, 2023, the National Tax Agency (NTA) published a guidance titled “Tax Treatment of NFTs (Information)”. This is probably the first time the NTA…

How to Register as a JCT Qualified Invoice Issuer

Kensaku Kimura
Posted: 2023-01-13
Last updated: 2023-02-06

Are You Prepared for the Upcoming Changes to Japanese Consumption Tax? In previous articles, we’ve been covering the upcoming changes to JCT. Upcoming Changes to Japanese Consumption Tax in 2023 The important points are: Japanese tax authorities will be…

Qualified Invoice Format Under JCT

Kensaku Kimura
Posted: 2023-01-09
Last updated: 2023-02-06

Background As mentioned in our previous post, the Japanese Consumption Tax (JCT) will be going through major changes in 2023. Upcoming Changes to Japanese Consumption Tax in 2023 The key points regarding these changes are: Japanese tax authorities will…

Japanese Consumption Tax (JCT) – Non-taxable Good & Services

Kensaku Kimura
Posted: 2023-01-05
Last updated: 2023-02-05

Overview Today’s post will be Part 3 of a series on Japanese Consumption Tax (JCT) that we’ve been doing the past few days. Links to previous JCT related posts: Introduction to Japanese Consumption Tax (JCT) Japanese Consumption Tax (JCT)…

Japanese Consumption Tax (JCT) – Scope and Who Pays the Tax

Kensaku Kimura
Posted: 2023-01-03
Last updated: 2023-02-05

Overview In a previous post, we introduced some basic characteristics of JCT. Introduction to Japanese Consumption Tax (JCT) In this post, we’ll be looking at the scope of JCT and who actually pays the tax. Scope of JCT…