Japan Tax Topics
NetSuite and the Japan Localization SuiteApp provide tax features and tax records specific to Japan. The SuiteApp also enables you to calculate Japan consumption taxes, accomplish the Japan Consumption Tax Form, and use tax reports.
To use the Japan Consumption Tax Form and other Japan tax features, you must install the Japan Localization SuiteApp, with Bundle ID: 473889 or later versions.
The Japan Localization SuiteApp is not compatible with the SuiteTax feature. If the SuiteTax feature is enabled in your NetSuite account, do not install the Japan Localization SuiteApp.
A new installation of the Japan Localization SuiteApp will automatically provide the following tax records:
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Tax codes (to be used starting October 1, 2019)
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Tax types
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Tax control accounts
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Tax agency
If your account already has the Japan Localization SuiteApp installed, you must manually create the new tax codes that become effective on October 1, 2019. The new tax codes should be set up using the correct tax classification. Tax category mapped to main tax category must be set on purchase transactions.
To begin using Japan tax features, do the following:
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Install the Japan Localization SuiteApp. See Installing the Japan Localization SuiteApp.
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Set your tax preferences. See Setting Up Consumption Tax - Japan.
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Set up the rounding method and precision. See Setting Tax Rounding Methods - Japan and Selecting Precision Settings - Japan.
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Set tax rounding preferences for customers and vendors. See Setting Tax Rounding Preferences for a Customer or Vendor - Japan.
Reverse Charge reporting on imports is currently not supported in Japan.
Related Topics
- Tax Accounting Overview
- Enabling and Setting Up Taxation Features
- Advanced Taxes
- Managing Tax Codes
- Consumption Tax Overview - Japan
- Setting Up Consumption Tax - Japan
- Setting Tax Rounding Methods - Japan
- Selecting Precision Settings - Japan
- Setting Tax Rounding Preferences for a Customer or Vendor - Japan
- Japan Consumption Tax Form
- Japan Consumption Tax Reports
- Deductible Purchase Tax for Japan