Article 68Income Tax Credit

①In the case where a domestic corporation receives interest, etc., dividends, etc., compensation for periodic deposits, interest, profits, margin profits, distributions of profit, or monetary awards prescribed in the items of Article 174 (Tax Base for a domestic corporation's Income Taxes) of the Income Tax Act (referred to as "interest and dividends, etc." in the following paragraph) in each business year, the amount of income tax to be imposed thereon pursuant to the provisions of that Act (excluding the amount equivalent to the foreign tax adjusted at distribution prescribed in Article 69-2, paragraph (1) (Credit for Amount Equivalent to the Foreign Tax Adjusted at Distribution) that pertains to the amount of income tax) is credited against the amount of corporation tax on its income for the business year, as specified by Cabinet Order.

③In the case where there is a refund under the provisions of Article 78, paragraph (1) (Refund of Income Tax) or Article 133, paragraph (1) (Refund of Income Tax Due to Reassessment, etc.) as a result of the filing of an interim return stating the matters listed in the items of Article 72, paragraph (1) (Matters to be Entered in Interim Return in the Case of Provisional Settlement of Accounts) in the business year referred to in paragraph (1), the amount of income tax referred to in paragraph (1) is not to include the amount of the refund.

④The provisions of paragraph (1) apply only in the case where there is an attachment to a Final Return, an amended return or a written request for reassessment of documents stating the amount of credit to be received pursuant to the provisions of the paragraph and a detailed statement concerning the calculation thereof. In this case, the amount to be credited under the provisions of the paragraph does not exceed the amount entered as the amount.