Only the Importer of Record is eligible for the Deduction of Import JCT - Japan Consumption Tax
April 27, 2024
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, the importer is defined as the taxpayer, known as the […]
Japan JCT Tax Obligations for Foreign Corporations with a Capital of Over 10 Million Yen (Amendments to the Consumption Tax Law, April 2024)
April 14, 2024
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 businesses, it may not be necessary to pay the tax […]