Invoice System

Outline of the Invoice System

Effective October 1, 2023, the qualified invoice-based method (the invoice system) for buyers to receive credit for consumption tax will be applied.

<Seller>
A registered business entity that is a seller is required to issue an invoice when requested to do so by its counterparty (taxable enterprise) that is a buyer (and is required to retain a copy of the issued invoice).

<Buyer>
In order to apply for the purchase tax credit, the buyer is required, in principle, to retain the invoice* issued by the registered business entity that is the counterparty to the transaction (seller).

*The buyer can also apply for the purchase tax credit by retaining a statement of purchase, etc., prepared by the buyer that includes certain items (items required to be included in the invoice) and confirmed by the counterparty.

Outline of the Invoice System, National Tax Agency (Japanese only)

Qualified Invoice Issuer Registration Number

LY Corporation has registered as a Qualified Invoice Issuer on October 1, 2023.
The registration number is “T4010401039979”
The registration number can also be found on the National Tax Agency’s “Qualified Invoice Issuer Notification Website”  (Japanese only).