From October 2023, the invoice system for consumption tax will be introduced in Japan. １．Registration as a ‘Qualified Invoice System’ for existing taxable enterprises (obtaining a VAT number)In order to deduct Input VAT, you have to register as a ‘Qualified Invoice System’; the deadline is the end of 2023/3. Non-resident Japanese individual enterprises and corporations wishing to deduct Input VAT must register. If a non-taxable enterprise registers, it can deduct Input VAT but must file a consumption tax return. Contact ⇒
US Re-export Control is Tightening.① EAR Compliance ② ECCN Classification ③ Customer Screening⇒ Then, you can determine requirement of export license or license exceptionViolation may result fines, imprisonment, and/or trading restriction of US goods. Organize reliable exporting system → Security Trade ControlClassification of export items, Customer screening, Staff training Contact ⇒
We interviewed Mr. Shibata, Head partner about the firm and himself. Specialized in international taxation, trade & customs and international business TradeTax International Tax & Accounting Office, with offices in Tokyo and Osaka, have specialized in Trade (trade & customs, Japan/Asia Investment and business). With the Asian economy in the spotlight, we provide tax and business support to foreign companies using Japan, Singapore, Hong Kong China as their Asian hubs. In addition to regular accounting and tax services, we also provide support for companies considering listing on the stock exchanges of Tokyo, Nagoya, Sapporo, and Fukuoka in Japan. TradeTax is a member of the Bansei Securities Group, and our new job is to connect finance and real demand such as international transactions. Reorganization through base transfers within Asia, successful exits, and security trade control compliance linked to Europe and the U.S. are also emerging in new business areas. Extensive business experience and network For business owners who are considering investing in Japan/Asia business Japan/Asia is difficult to understand, with a different language and culture from the West. Expatriates of foreign companies in Japan tell us that they have no idea about taxes and laws, and they do not know where […]
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- catch-all regulation, customs, epa, free trade, fta, global trade, IBFD, returned goods, rules of origin, tariff, tariff code, tpp11, vat
Shibata wrote in the book “GLOBAL TRADE AND CUSTOMS” (published by IBFD).You’ll find information about trade and customs around the world. The contents of is as follows.Chapter 7 Japan Introduction7.1. Classification of goods 7.1.1. Introduction7.2. Rules of origin 7.2.1. Relevance of rules of origin 7.2.2. Free trade agreements 7.2.3. Wholly obtained goods 7.2.4. Last substantial transformation 188.8.131.52. Value-added method 184.108.40.206. Change in tariff classification 220.127.116.11. Manufacturing or processing operation 18.104.22.168. Insufficient working or processing/Non-qualifying operations/Minimal operations 22.214.171.124. Cumulation 7.2.5. Practical aspects and challenges 7.2.6. Proofs of origin 126.96.36.199. Country of origin certification under the Japan-EU FTA 188.8.131.52. Country of origin certification under TPP117.3. Customs value 7.3.1. Transaction value 184.108.40.206. Amounts included in the transaction value 220.127.116.11. Elements to be included and excluded 7.3.2. Alternative valuation methods 18.104.22.168. Identical or similar merchandise 22.214.171.124. Deductive method 126.96.36.199. Computed method 188.8.131.52. Fall-back method 7.3.3. Most typical challenges 184.108.40.206. Related-party pricing 220.127.116.11. Price adjustments 18.104.22.168. Exchange rate 22.214.171.124. Returns and repairs 126.96.36.199. Advance ruling on customs value7.4. Goods […]
TradeTax East Japan in Tokyo : Atsushi Shibata (Mr.) ,CEO wrote in “Global Trade and Customs: A practical Comparison of Major Jurisdictions” (published in July 2020) by IBFD. What is IBFD? It was founded in 1938 to provide information on tax law around the world and to promote the development of tax law. Today, it is the world’s most prestigious international organization of international taxation. IBFD has more than 70 research professionals in over 30 countries and provide high quality and reliable research and information. In the past, Toshihiko Kuroda of Governor of the Bank of Japan and Hiroshi Kaneko, an authority of Japanese tax law (Awarded Medal of Culture in 2018) were also members of the board of trustees and of the advisory council.IBFD official website ⇒Click here If you would like to know more about the content,Please contact us. ⇒Click