business compliance

A Year into Japan’s New Tax System

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Japan inaugurated its new tax system in October 2023, aiming to streamline compliance and bolster fiscal transparency. A year into Japan’s New Tax System, businesses acclimatize to this substantial overhaul, it’s crucial to assess the impact these regulations have had on operational practices. Initial Challenges and Adaptation The transition presented challenges, particularly for small and … Read more

History of the Japanese Consumption Tax Regime (1989-2014)

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Japanese Consumption Tax

The Japanese Consumption Tax (JCT) has undergone significant transformations since its inception in 1989. This article aims to trace the evolution of the JCT, culminating in the introduction of the Qualified Invoice System in 2023, a critical change for businesses operating in Japan, particularly foreign enterprises. Early Stages of the Japanese Consumption Tax The journey … Read more