Yes, even small companies may need to change daily administration to comply with revised electronic book preservation act in Japan. This revision will come into force on 1st January 2024.
So, all business owners are supposed to get ready for the change. However, many companies especially small companies and sole proprietor are not prepared and some companies are even not aware of this revision. Taking account of this delay in preparation, the government relaxed the requirements of this revision in 2023.
For example, Grace Measure will apply if companies cannot install new systems or workflow to preserve Electronic Transaction Data due to a “Valid Reason“. And small companies whose annual sales a of 2 fiscal years ago are 50 million yen or less are exempted from some obligations as explained in this Article.
- What companies need to do to comply with the revised Electronic Preservation Act in Japan
- Difficulties in preservation of Electronic Transaction Data.
- What is Grace Measure and Valid Reasons
- The Simplest way to fulfill the requirements of the revised Electronic Book Preservation Act in Japan.
This Article was written by ATSURO TSUJINO （Attorney at Law of Ashita no Shishi Legal Office）