Asian Banking Finance: E-Invoicing in Japan | Innovation Opportunities from a Treasurer’s Perspective

Electronic invoice (e-invoicing) is a system to digitize qualified invoices that are mandatory for the deduction of purchase tax under Japan’s qualified invoice system. This system is intended to provide an appropriate consumption tax credit for purchases in response to the multiple tax rates for a consumption tax in 2019, and is scheduled to be introduced in October 2023.

Corporate-to-bank channel connectivity is a critical enabler for businesses of all sizes as they expand globally and the number of banks and accounts needed to conduct business increases. In addition, corporate channels act as the digital backbone for corporate clients to retrieve transaction information, initiate payments, collect receivables, perform reconciliations, and conduct other financial transactions.

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