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Dear administrator,
Japan has announced the Qualified Invoice Base method to receive tax credit for consumption tax corresponding to multiple tax rates on purchases effective October 1, 2023.
What is a Qualified Invoice?
A qualified invoice is a document in which a Supplier tells a customer the exact taxable tax rate, consumption tax, etc. in New Input Tax credit system.
Details in local language can be found on: https://www.nta.go.jp/taxes/shiraberu/zeimokubetsu/shohi/keigenzeiritsu/invoice_about.htm
A Qualified Invoice must contain the following information:
- Name of supplier and supplier’s Registration Number for qualified invoice purpose
- Date of taxable transaction
- Description of taxable transaction (which rate is applied)
- Taxable amount per tax rate
- Tax amount per tax rate
- Name of buyer
Reference: Document from the National Tax Agency's website (Japanese)
Summary of changes:
|
Effective Date
|
Type of Invoice
|
Reclaim Percentage
|
|
October 1, 2023
|
Qualified
|
100%
|
|
Not Qualified
|
80%
|
|
Invoice does not have a Tax ID/VAT
|
0%
|
Note: Please disregard these updates/changes if they do not apply to your SAP Concur configuration. Otherwise please raise a Support case for MRA Team (Steps here)
