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Japan to let companies store tax documents digitally

TOKYO -- Businesses in Japan will be able to keep digital copies of receipts and contracts for tax purposes as early as next year, eliminating costs for transporting and storing paper documents.

     The government began coordinating with the business community on the matter last month. Companies must now store original paper receipts and contracts for seven years for amounts of 30,000 yen ($261) or more. The proposed changes let businesses keep scanned files instead, regardless of the amount.

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