Japan releases e-invoicing FAQ
The Japanese Digital Agency has released an FAQ providing an overview and details regarding the implementation of the Japanese Peppol INTernational (JP PINT) e-invoicing standard.
JP PINT is a globalized standard for digital invoice exchange over the Peppol network. Peppol stands for Pan-European Public Procurement Online, which is a set of standards for electronic procurement used in many European countries, Australia and New Zealand. JP PINT is based on these standards and is intended to streamline business operations and reduce paperwork by allowing for the exchange of electronic documents such as invoices, purchase orders, and delivery notes.
Japan will implement a new Qualified Invoices System (QIS) for Japanese Consumption Tax (JCT) effective from October 1, 2023. The Japanese Tax Reform 2023, released earlier this year, detailed QIS requirements. JP PINT is being implemented to complement and support the QIS.
The Japanese Government has been promoting the adoption of e-invoicing as part of its efforts to streamline administrative procedures and reduce costs for businesses. By adopting JP PINT, businesses in Japan can benefit from a more efficient and cost-effective invoicing process while complying with government regulations.
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