Finance Ministry: Corporate My Number used for Customs formalities

The Finance Ministry has announced it will start requiring the “Corporate My Number” (kigyouban mainanbaa) for registrations of imports and exports. The aim is to simplify procedures and cut the administrative burden for companies.  Presently, companies are required to obtain codes issued by Customs, in order to specify a importer/exporter.

The 13-digit Corporate My Number was introduced only few years ago, together with the personal My Number of 12 digits. Corporate Number are publicly accessible and given to companies and public corporations at time of establishment and expected to smoothen administrative procedures and transactions.

More specifically, the Corporate Number will replace the procedure where two kinds of codes had to be obtained by companies from Customs. For companies that do not possess the codes there will also be a benefit as the amount of time necessary to investigate transactions is expected to decrease as well.  The new procedure will start this Fall, from October 1st.

General information about the Corporate Number system is available at the National Tax Agency.

 

 Source: Nikkei Online.

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