EBC ニュースレター 2024年9月26日

EBC ニュースレター 2024年9月26日

 

 

From the EBC

Dear Friends of the EBC,

On 20 September, the Tax Committee of the European Business Council in Japan (EBC) issued recommendations to streamline the new digital expense settlement system for tax purposes. Japan’s recent push for digital transformation in payments has been set back by the Qualified Invoice System, which now requires receipts for almost all transactions, including small cashless payments. This has increased the complexity of expense claims, wiping out previous efficiency gains. Global practices can serve as a model for reform. Implementing the EBC’s proposals would reduce administrative burdens and support Japan’s ongoing digital innovation efforts.

In the short term, the EBC Tax Committee recommends reducing receipt requirements by extending the current exemption for travel expenses under JPY 30,000 to more transactions and eliminating receipts for cashless payments linked to expense systems. Long-term reforms include the creation of an automated system that allows credit card data to meet the requirements of Japan’s Qualified Invoice System, reducing the need for receipts. Financial support is also proposed to help upgrade payment systems for compliance.

Our second EBC Digital Automotive Summit, in cooperation with the German Chamber of Commerce in Japan, the Delegation of the European Union to Japan and the EU-Japan Centre for Industrial Cooperation is fast approaching! On 17 October, (4:00pm) this event will unite industry, policy, and advocacy leaders from the Japanese and European Automotive Industry for a critical conversation on the future of the sector.
With keynotes from expert speakers, we’ll explore how digitalization and rapidly changing markets are shaping the industry’s trajectory. Through the Japan-Europe lens, we’ll dive into disruptive innovations like Generative AI and discuss the role of AI, data policies, and cybersecurity in the EU-Japan Digital Partnership – a collaboration fostering innovation and our digital future.

Register here

Looking forward to insightful discussions and meaningful connections!

On 9 October (15:00-18:30, Tokyo Midtown Yaesu), the city of Sapporo will hold an in-person “Seminar to attract GX and financial businesses– Creating the Future in Sapporo – Investing in the Future that Starts and Changes from Sapporo.
This seminar will present Hokkaido and Sapporo’s initiatives as a designated special business zone, while simultaneously providing an opportunity to network with related agencies.

Registration

From 13 to 15 November 2024, the EU-Japan Centre for Industrial Cooperation is organising an exclusive matchmaking event at the Kawasaki International Eco-Tech Fair. Participants will be able to meet Japanese companies and representatives from the Philippines (Cebu) and Cambodia to discuss EU-Japan joint projects in the Philippines and Cambodia. A call for applications is open for EU companies and their subsidiaries in Japan and Southeast Asia developing sustainable solutions related to energy, waste and water management or doing consulting and project management in Southeast Asia.

Applications can be submitted here by 8 October 2024

We look forward to connecting with you soon!

Valerie Moschetti
EBC Chief Operating Officer

For more updates and information, please visit our website

What’s in the Media

  • Four Japanese banks are among over 40 commercial financial institutions participating in an international demonstration test for cross-border payments using digital currencies led by the Bank for International Settlements. (The Japan News)
  • Japan and the European Union plan to establish director general-level dialogue on security and defense issues, a diplomatic source said Saturday, aiming to further strengthen collaboration amid China’s growing military assertiveness. (Japan Today)
  • The Defense Ministry and the Economy, Trade and Industry Ministry announced on Wednesday that they will create a new framework in which advanced technologies of startups can be utilized for the development of defense equipment as dual-use projects. (The Japan News)

Upcoming EBC Committee Meetings

Date Committee Time / Location
Oct 11 (Fri) Railways Hybrid
1600~
Oct 17 (Thu) Insurance Hybrid
0730~
Oct 17 (Thu) Human Resources Hybrid
0930~
Oct 17 (Thu) Medical Equipment & Diagnostics Off-site
1430~
Oct 22 (Tue) Food & Agriculture Hybrid
1700~
Nov 8 (Fri) Railways Hybrid
1600~
Nov 14 (Thu) Medical Equipment & Diagnostics Off-site
1430~
Nov 21 (Thu) Human Resources Hybrid
0930~

If you are interested in joining a committee meeting, please contact the EBC to confirm the time and meeting place.

Stakeholders of the EBC:

European Business Council JAPAN
Toranomon Hills Business Tower 15F, 1-17-1 Toranomon, Minato-ku, Tokyo 105-6415
105-6415 東京都港区虎ノ門1-17-1 虎ノ門ヒルズビジネスタワー15階
www.ebc-jp.com/