Article 142-5Inclusion in Deductible Expenses of Interest on Liabilities Pertaining to Capital of Foreign Banks, etc.
第百四十二条の五（外国銀行等の資本に係る負債の利子の損金算入）
In the case where, in each business year of a foreign corporation that is a foreign bank prescribed in Article 10, paragraph (2), item (viii) (Scope of Business) of the Banking Act pertaining to a branch of a foreign bank prescribed in Article 47, paragraph (2) (License of Foreign Banks, etc.) of that Act, or a financial instruments business operator prescribed in Article 2, paragraph (9) (Definitions) of the Financial Instruments and Exchange Act (limited to a foreign corporation that conducts the type I financial instruments business prescribed in Article 28, paragraph (1) (General Rules) of that Act), there is interest on liabilities (including anything specified by Cabinet Order as being equivalent thereto) paid on liabilities pertaining to what is equivalent to the capital that it holds, the amount calculated, as specified by Cabinet Order, as corresponding to the amount calculated, as specified by Cabinet Order, as the amount that should be attributed to the permanent establishment prescribed in paragraph (1) of the preceding Article of the foreign corporation, out of the amount of the interest, is included in deductible expenses, when calculating the amount of income pertaining to income attributable to a permanent establishment of the foreign corporation for the business year.
銀行法第四十七条第二項（外国銀行の免許等）に規定する外国銀行支店に係る同法第十条第二項第八号（業務の範囲）に規定する外国銀行又は金融商品取引法第二条第九項（定義）に規定する金融商品取引業者（同法第二十八条第一項（通則）に規定する第一種金融商品取引業を行う外国法人に限る。）である外国法人の各事業年度において、その有する資本に相当するものに係る負債につき支払う負債の利子（これに準ずるものとして政令で定めるものを含む。）がある場合には、当該利子の額のうち当該外国法人の前条第一項に規定する恒久的施設に帰せられるべき金額として政令で定めるところにより計算した金額に対応するものとして政令で定めるところにより計算した金額は、当該外国法人の当該事業年度の恒久的施設帰属所得に係る所得の金額の計算上、損金の額に算入する。
The provisions of the preceding paragraph apply only in the case where a Final Return, amended return or written request for Reassessment is attached with a document stating the amount to be included in deductible expenses pursuant to the provisions of that paragraph and the details of its calculation, and documents concerning the calculation are retained. In this case, the amount to be included in deductible expenses pursuant to the provisions of that paragraph is limited to the amount stated as that amount.
Even in the case where the documents set forth in the preceding paragraph have not been retained with regard to the whole or a part of the amount to be included in deductible expenses pursuant to the provisions of paragraph (1), the district director may, when finding that there are unavoidable circumstances for the failure to retain those documents, apply the provisions of paragraph (1) to the amount for which those documents were not retained, only in the case where those documents are submitted.
The scope of liabilities pertaining to what is equivalent to capital prescribed in paragraph (1) and other necessary matters concerning the application of the provisions of that paragraph are specified by Cabinet Order.