Article 48Method of Calculating the Taxable Sales Ratio

①The ratio calculated as provided by Cabinet Order as prescribed in Article 30, paragraph (6) of the Act is the proportion that the amount listed in item (ii) accounts for in the amount listed in item (i):

②The transfers, etc. of assets prescribed in item (i) of the preceding paragraph do not include the following transfers of assets made by a business operator:

③Where a business operator has purchased bonds, etc. for repurchase transactions under an agreement to resell them on a date agreed in advance (for those for which the date can be determined on or after the day of the agreement, the date so determined) at a price agreed in advance or a price calculated by a method of calculation agreed in advance, and has resold those bonds, etc. for repurchase transactions in accordance with that agreement, the amount of consideration for the transfer, etc. of assets prescribed in paragraph (1), item (i) pertaining to that resale is the remainder obtained by deducting the amount of consideration for that purchase of those bonds, etc. for repurchase transactions from the amount of consideration for that resale of those bonds, etc. for repurchase transactions. In this case, where there is an amount that cannot be fully deducted by that deduction, the amount listed in that item is the remainder obtained by deducting that amount that cannot be fully deducted from that amount.

④For the purpose of applying paragraph (1), the consideration in the case where an act listed in Article 2, paragraph (1), item (iv) is carried out is interest (including redemption gain, the difference between the amount received in payment of a monetary claim taken over and its acquisition price, and anything else that is equivalent to interest in economic nature).

⑤Where a business operator has transferred securities prescribed in Appended Table 2, item (ii) of the Act (excluding golf course membership shares, etc. prescribed in Article 9, paragraph (2)) and the rights listed in paragraph (1), items (i) and (iii) of that Article (hereinafter in this paragraph referred to as "securities and similar interests") (excluding where that transfer falls under a transfer of bonds, etc. for repurchase transactions listed in paragraph (2), item (iii) or a resale of bonds, etc. for repurchase transactions prescribed in paragraph (3)), or has transferred a monetary claim listed in Article 9, paragraph (1), item (iv) (excluding one acquired by a person who made a transfer, etc. of assets as consideration for that transfer, etc. of assets; the same applies hereinafter in this paragraph), the amount of consideration for the transfer, etc. of assets prescribed in paragraph (1), item (i) of this Article pertaining to that transfer is the amount equivalent to 5/100 of the amount of consideration for the transfer of those securities and similar interests or that monetary claim.

⑥Where the redemption amount prescribed in Article 10, paragraph (3), item (vi) of national government bonds, etc. is less than the acquisition price prescribed in that item, the amount listed in paragraph (1), item (i) is the remainder obtained by deducting from that amount the amount obtained by deducting that redemption amount from that acquisition price (including, where those national government bonds, etc. fall under redemption securities prescribed in Article 139-2, paragraph (1) (Inclusion of Adjustment Gain or Loss on Redemption Securities in Gross Profits or Deductible Expenses) of the Order for the Enforcement of the Corporation Tax Act, the adjustment loss prescribed in that paragraph).