Japan: Requirements for electronic recordkeeping of tax-related books and records

Amendments to the rules for electronic preservation of tax-related books and records

Amendments to the rules for electronic preservation of tax-related books and records

Japan’s tax agency released guidance (a leaflet) that addresses amendments to the rules for electronic preservation of tax-related books and records pursuant to the 2021 tax reform.

The 2021 tax reform revised the electronic records preservation requirements for tax-related account books and documents and also addressed the scanner preservation system for tax-related documents. The leaflet (31 May 2021) provides an outline of the tax reform amendments to the electronic recordkeeping rules. The measures addressed in the leaflet concern:

  • Repeal of the rules for electronic recordkeeping pre-approval system by the competent tax office
  • The reduced rate of additional tax for understatement
  • The validity of approval of an electronic recordkeeping system received before 1 January 2022

Read a June 2021 report [PDF 111 KB] prepared by the KPMG member firm in Japan

 

 

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