Learn in the textbookTaxes and the Invoice System
DefinitionThe qualified invoice retention method (適格請求書等保存方式) is the official name of the system that requires keeping qualified invoices (適格請求書) and similar documents as a condition for claiming the consumption tax input tax credit.
ExplanationThe system began in October 2023 and is commonly called the invoice system (インボイス制度). A qualified invoice shows items such as the issuing business's registration number, the applicable tax rate, and the consumption tax amount for each rate. Only a qualified invoice issuer (適格請求書発行事業者) registered by the head of a tax office can issue one.
Memory hookBreak the name into "qualified", "invoice", "retention" and "method", and the name itself spells out the requirement.