Articles

HLS Global and AGS Consulting Establish Joint Venture

A partnership created to empower Japanese companies to expand globally

Torrance, CA, U.S.A. / Tokyo, Japan:

On December 6, 2022, Hotta Liesenberg Saito LLP (HLS) and AGS Consulting Co., Ltd. (AGS) announced the establishment of a joint venture to provide a wide range of support services to Japanese companies expanding globally. In announcing this significant partnership, the two companies are sharing their vision, spirit, and resources while fully committed to the growth and success of all our clients.

What Is the Indication of Fraud (“Red Flags of Fraud”)?

[Japanese text only]

過去の事例を言うまでもなく、不正が発覚すると、企業の業績だけでなく評判にあたえるダメージも大きく、例えば、不正の発覚により取引先から取引が縮小・停止されたり、人の採用が難しくなる、最悪の場合には会社の存続の危機を迎えます。こういった事態を回避するためには、積極的に不正を抑止することが重要です。

Are you Prepared for the Mandatory Anti-Harassment Measures?

Power harassment prevention measures will become mandatory for small and medium-sized enterprises starting from April 1, 2022.

The Power Harassment Prevention Act (Revised Act on Comprehensive Promotion of Labor Measures) came into effect on June 1, 2020. It will finally become mandatory for small and medium-sized enterprises (SMEs) from April 1, 2022. The recent increase in telework has also had an impact, and issues such as “lack of communication” and “lack of understanding of harassment (managers)” have been cited as some of the challenges faced by employees. Possible countermeasures include revitalization of communication and implementation of training programs for managers.

Extension of Filing and Payment Due Dates for Individual Income Tax

Due to the rapid spread of the Omicron variant of the Coronavirus, on February 3, 2022, the Japanese National Tax Agency (NTA) announced an extension of filing and payment due dates for Individual Income Tax.

FY2021 Tax Reforms & Update to the Electronic Preservation System

As part of the 2021 tax reforms, the Japanese National Tax Authority (NTA) has released further updates on December 10, 2021.

As was announced initially, amendments to the Act of Electronic Preservation System for Documents related to National Taxes were to take effect on January 1, 2022. However, in the latest release from NTA, the effective date of these amendments has been extended by 2 years.

Introduction to the New Japanese Invoice System Implementation & Qualified Invoice Issuers

1. What is the new Japanese Invoice System？

Japan will implement a qualified invoice storage method (Japanese Invoice System) from October 2023. Under this new Japanese Invoice System, all qualified invoices, where tax credits for Japanese Consumption Tax (JCT) are applicable, will require proper storage as per the stipulated guidelines. Otherwise, deductions through tax credits may not be applicable, and the amount of JCT payments may increase.