In a move toward digitization, Japan recently unveiled substantial revisions to the Electronic Book Preservation Act that came into effect from January 2024. These changes mark a significant shift in the country’s approach to bookkeeping, allowing for greater flexibility and efficiency in managing financial records.
A Brief History
Originally enacted in 1998, the Electronic Book Preservation Act initially posed challenges for businesses, requiring prior approval from tax offices to store documents electronically. However, starting from January 1, 2024 reforms of the act will come into effect aims to address these issues, streamlining procedures and fostering a more digital-friendly environment.
Download Tricor's "Japan’s Digital Leap - Reforms to Electronic Book Preservation Act Unveiled" to learn more.
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