Japan launches new invoice system

TOKYO, Oct 01 (NHK) - Japan has introduced a new invoice system designed to more accurately calculate the amount that businesses must pay in consumption tax under the country's dual tax rate structure.

Starting on Sunday, businesses will need to register with the state in order to issue qualified invoices when they sell products or provide services.

Businesses that have purchased products or received services will need to have invoices, when they apply for tax deductions or file tax returns.

The invoices will have to contain certain information, such as the amount of tax required according to each of the two tax rates -- 10 percent for most products and services, and 8 percent for food and other items.

The new invoices are similar to those used in EU countries.

Small businesses that earn less than 10 million yen, or about 67,000 dollars, a year in sales were previously exempt from tax payments. But they must now pay the tax, if they register with the state to issue the invoices.

The government has transitional measures in place to allow small businesses to reduce their tax payments for three years.

Source: ANNnewsCH

Heavy rain emergency warning in place for Japan's Ishikawa Prefecture

A heavy rain emergency warning is in place for the cities of Wajima, Suzu and the town of Noto in Ishikawa Prefecture, central Japan. This is the highest alert level on the agency's scale of one to five. The area was severely hit by an earthquake on New Year's Day. (NHK)

Ohtani Hits Milestone with 52-52 Record

Shohei Ohtani returned to Dodger Stadium in spectacular fashion, hitting a home run and stealing a base in his first game back, raising his season total to 52 home runs and 52 stolen bases.

China to Lift Japanese Seafood Ban

Japanese Prime Minister Kishida Fumio says Japan and China have reached an agreement that will lead to the resumption of China's imports of Japanese seafood. (NHK)

Tohoku Shinkansen Unexpected Detaches at 315 km/h

The Tohoku Shinkansen came to a halt for five hours on Thursday due to an unexpected mid-journey separation of the linked Hayabusa and Komachi trains, 30 minutes after passing Furukawa Station with a total of 320 passengers on board.

Eruption Warning for Izu's Sumisu Island

The Japan Meteorological Agency has issued an eruption alert for Sumisu Island in the Izu Islands, following the detection of discolored water in July.

MEDIA CHANNELS

MORE Business NEWS

Daihatsu Recalls 1.71 Million Vehicles Due to Bolt Issues

Daihatsu Motor announced on Friday that it has filed a recall with the Ministry of Land, Infrastructure, Transport, and Tourism for 1.71 million vehicles, including 15 models such as the Tanto, due to improper tightening of seat bolts.

New Condominium Prices in Tokyo Exceed 100 Million Yen for Fourth Straight Month

The average price of a newly built condominium in Tokyo’s 23 wards has exceeded 100 million yen for the fourth consecutive month.

Why Onna Village Leads Japan's Growth in Land Prices

The village of Onna in Okinawa has recorded the highest land price increase in Japan, with prices for some areas rising by 29%. The average nationwide land price has increased by 1.4% for the third consecutive year, but the sharpest growth is seen in residential areas like Onna Village.

Japan's Land Prices Surge for 4th Straight Year

Land prices across Japan have been rising for four consecutive years, with North Kanto emerging as a key area of interest due to its favorable living conditions.

Sharp Unveils First EV With Extended Living Room

Sharp, a major home appliance manufacturer, has unveiled its first electric vehicle (EV) as part of its move into the electric vehicle market, with a five-seater 'extended livingroom' EV Sharp van.

What’s the Price of Golden Black Jack?

Gold is gaining increasing attention as a stable asset. Among the most eye-catching items at a gold exhibition held in a Sapporo department store are statues of the genius surgeon Black Jack and his assistant Pinoko, both made of gold.

Honda’s First Startup Launches Navigation Device for the Visually Impaired

There are approximately 2 million visually impaired individuals in Japan and 300 million worldwide. Due to their impaired vision, going out often comes with the risk of accidents. In response to this issue, Honda's first startup Asirase, led by CEO Chino, developed a navigation device called 'Ashirase' to assist visually impaired individuals in walking safely.

Japan's Restaurant Chains Seize Opportunities in China's Budget-Conscious Market

Japanese food businesses are intensifying their expansion efforts in China, where consumption has stagnated due to rising food prices. We investigate the factors driving these Japanese companies to accelerate their operations in the Chinese market.

< 2 3 4 5 >