Samuel Bourque 
Let’s begin by impressing the point that the real goal here is to be able to retrace your financial steps… and for an auditor to do so. As such, you need to leave the right trail that is straightforward to review. So then the question is: which types of document do I need to store? … Read more
Japan’s evolving tax regulations, particularly the Qualified Invoice System and electronic record-keeping rules, have set new compliance benchmarks for businesses. Understanding the implications of non-compliance is crucial to avoid potential risks and penalties. The High Cost of Non-Compliance Failure to adhere to Japan’s tax laws can lead to various challenges and repercussions for businesses: Proactive … Read more
As Japan’s Electronic Document Storage regulations are now in effect, many SMEs are contemplating whether it’s feasible to meet these requirements independently. Let’s explore the complexities and challenges involved in this undertaking. The Complexity of Compliance The regulations mandate not only the storage of electronic financial documents for up to 10 years but also the … Read more
In today’s digital age, meeting electronic document storage regulations is essential for Small and Medium Enterprises (SMEs) operating in Japan. Particularly for financial documents like invoices, receipts, and purchase orders, adherence to these regulations ensures compliance and efficiency. The Need for Electronic Document Storage The Japanese government mandates that if financial documents are originally issued … Read more
In an era where digital transformation is pivotal, electronic record keeping has become more than a convenience—it’s a necessity. For Japanese businesses, recent legislative changes have significantly reshaped the landscape of electronic record keeping, especially in the context of tax compliance. Background of Electronic Record Keeping in Japan Traditionally, Japanese businesses have relied heavily on … Read more
Understanding the nuances of Japan’s Qualified Invoice System (QIS) is critical, particularly regarding the consumption tax deduction. Recent changes in the QIS affect how businesses can deduct consumption tax from qualified invoices. This article explores the gradual change and its implications for businesses under the QIS. Disclaimer: This article is for informational purposes only and … Read more
For Small and Medium Enterprises (SMEs) in Japan, especially foreign-owned businesses, navigating the complexities of the Qualified Invoice System is crucial for compliance with tax laws. To that end, this article aims to clarify who needs to adhere to this system. For a detailed understanding, consult an expert and visit Japan’s National Tax Agency for … Read more
Navigating the complex tax environment in Japan poses a significant challenge for foreign SMEs. With the introduction of stringent compliance requirements like the Qualified Invoice System, the need for an efficient, reliable Electronic Document Management System is more crucial than ever. Paradigm emerges as an indispensable tool in this regard, offering JIIMA-compliant tax management tailored … Read more
A Qualified Invoice Number is a unique identifier required under Japan’s new tax system for valid invoicing and claiming tax credits. It is a part of the invoice criteria set by the National Tax Agency for transparent and efficient consumption tax processing. For more background on the recent history of the development of the new … Read more
As Japan continues to evolve its tax landscape, the Qualified Invoice System, introduced in 2023, stands as a pivotal change in the country’s taxation approach. This article aims to demystify what the Qualified Invoice System is and its significance for businesses, particularly for foreign companies operating in Japan. For a detailed historical context of Japan’s … Read more