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

Do Bears Prefer Acorns or Berries?

Bear sightings across Japan have already climbed to nearly twice the level recorded during the same period last year, prompting entry bans in mountain areas behind Kyoto’s Ninna-ji Temple and the cancellation of hiking events in Kansai, while new research suggests that the key to reducing encounters may lie in understanding what bears eat in each region.

Copper Thieves Target Japanese Shrines

Copper roofing panels were stolen from several shrines in Hamamatsu, Shizuoka Prefecture, including a city-designated cultural property, in the latest case amid a nationwide surge in copper thefts targeting shrines and temples across Japan, where soaring metal prices have fueled crimes that leave historic religious buildings damaged, exposed to the elements, and facing repair costs of millions of yen.

1200-Year-Old Temple on Miyajima Reduced to Ashes

Flames broke out on the morning of May 20th on Miyajima Island in Hiroshima Prefecture, home to one of Japan's World Heritage sites, destroying Reikado Hall near the summit of Mount Misen.

From Bento Boxes to Garbage Bags, Rising Costs Hitting Daily Life Across Japan

Uncertainty surrounding the situation in the Middle East is beginning to affect daily life in Japan, as concerns over crude oil supplies spread to restaurants, cleaning services and even household garbage disposal systems across the Kansai region.

Tochigi Robbery-Murder Suspect’s Wife Posted Dance Videos on Social Media

A 25-year-old woman arrested as a suspected ringleader in a robbery-murder case in Tochigi Prefecture once posted cheerful dance videos on social media and was remembered by those who knew her as an energetic and outgoing young woman.

MEDIA CHANNELS

MORE Business NEWS

Honda Launches New EV for 3,390,200 Yen

Honda will launch a new compact electric vehicle in Japan as it seeks to expand EV sales and rebuild its four-wheel business following its first annual loss since listing.

Morinaga Suspends Sales of Long-Selling Hi-Soft Caramels Due to Middle East Tensions

The impact of tensions in the Middle East is spreading to familiar snacks in Japan, with Morinaga & Co. temporarily suspending sales of some caramel products, including its long-selling Hi-Soft brand, after difficulties emerged in securing certain raw materials.

Nikkei Surges Over 2,200 Points as SoftBank Lifted by OpenAI IPO Report

The Nikkei Stock Average rebounded sharply on May 21st after falling below 60,000 at the previous day's close, briefly rising more than 2,200 points as hopes grew for progress in talks toward ending the fighting between the United States and Iran, while SoftBank Group gave the market a major boost following reports that OpenAI was preparing to file for an initial public offering.