Only the Importer of Record is eligible for the Deduction of Import JCT - Japan Consumption Tax
Last Updated on January 2, 2025 by SK ADVISORY INC In Japan, only the Importer of Record (IOR) is eligible to deduct input (import) consumption tax in principle. The taxpayer liable for the Japan Consumption Tax on Imported Goods from the bonded area, and is considered the importer under Japanese customs law. Under customs law, […]
Japan Security Export Control - Compliance Establishment
Last Updated on January 2, 2025 by SK ADVISORY INC Exporters shipping goods from Japan are required to verify whether the exported goods or transactions are subject to security export control regulations. Exporters must prepare the necessary classification documents (Certificates of Non-Applicability/Applicability) for export customs clearance and, where necessary, obtain permission from the Ministry of […]
Japan JCT Tax Obligations for Foreign Corporations with a Capital of Over 10 Million Yen (Amendments to the Consumption Tax Law, April 2024)
Last Updated on January 2, 2025 by SK ADVISORY INC Consumption tax in Japan applies to the transfer of assets conducted domestically by businesses, which means that non-residents and foreign corporations are also subject to consumption tax and are obliged to pay it if they transfer assets within Japan. In some cases, such as exempt […]