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Are you ready for the new Electronic Record Retention Law?
Amendments to Japan’s Electronic Record Retention Law (ERRL) making the digital storage (to prescribed standards) of electronic transaction records compulsory as from 1 January 2024 have implications for all businesses operating in Japan.
In this episode of The Japan Perspective, David Bickle, partner in Deloitte Japan’s Business Tax Services team, discusses the updates to the ERRL and explains what the changes mean in practice. He emphasizes the importance of integrity and readability in stored data, and the risks of noncompliance. Taxpayers are advised to understand which documents fall within the ERRL definition of electronic transaction record and how these documents are stored in their current systems, to identify and remediate any gaps to ensure compliance before the deadline.
The Japan Perspective is a podcast series committed to communicating the latest Japanese tax developments and their potential impact on foreign multinational companies operating in Japan.
Click the icon below to watch.
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By Deloitte Dbriefs Asia PacificAmendments to Japan’s Electronic Record Retention Law (ERRL) making the digital storage (to prescribed standards) of electronic transaction records compulsory as from 1 January 2024 have implications for all businesses operating in Japan.
In this episode of The Japan Perspective, David Bickle, partner in Deloitte Japan’s Business Tax Services team, discusses the updates to the ERRL and explains what the changes mean in practice. He emphasizes the importance of integrity and readability in stored data, and the risks of noncompliance. Taxpayers are advised to understand which documents fall within the ERRL definition of electronic transaction record and how these documents are stored in their current systems, to identify and remediate any gaps to ensure compliance before the deadline.
The Japan Perspective is a podcast series committed to communicating the latest Japanese tax developments and their potential impact on foreign multinational companies operating in Japan.
Click the icon below to watch.
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