This Act comes into effect on April 1, 2016; provided, however, that the provisions set forth in the following items come into effect on the dates specified in those items:

Except as otherwise provided in these Supplementary Provisions, the provisions of the Corporation Tax Act as amended by the provisions of Article 2 (hereinafter referred to as "the New Corporation Tax Act") apply to corporation tax on income for a business year of a corporation (including an association or foundation without juridical personality prescribed in Article 2, item (viii) of the New Corporation Tax Act; the same applies hereinafter) beginning on or after the Effective Date and to corporation tax on consolidated income for a consolidated business year of a consolidated corporation beginning on or after the Effective Date, and with regard to corporation tax on income for a business year of a corporation that began before the Effective Date and corporation tax on consolidated income for a consolidated business year of a consolidated corporation that began before the Effective Date, the provisions then in force continue to govern.

①The provisions of Article 2, item (xii)-9 of the New Corporation Tax Act apply to a company split carried out on or after the Effective Date, and with regard to a company split carried out before the Effective Date, the provisions then in force continue to govern.

②The provisions of Article 2, item (xii)-14 of the New Corporation Tax Act apply to a contribution in kind carried out on or after the Effective Date (excluding a contribution in kind that is carried out during the period from the Effective Date to the last day of a business year of the corporation receiving a capital contribution in kind pertaining to that contribution in kind that began before the Effective Date and ends on or after the Effective Date (referred to as a "contribution in kind subject to the transitional measures" in this paragraph)), and with regard to a contribution in kind carried out before the Effective Date (including a contribution in kind subject to the transitional measures), the provisions then in force continue to govern.

The provisions of Article 10-3, paragraph (4) of the New Corporation Tax Act apply in the case where a foreign corporation that has no permanent establishment comes to have a permanent establishment on or after the Effective Date.

The provisions of Article 54 of the New Corporation Tax Act apply to specified restricted shares and succeeding restricted shares prescribed in paragraph (1) of that Article for which a corporation adopts a resolution on their delivery (or, if no such resolution is adopted, makes their delivery) on or after the Effective Date.

The provisions of Article 62, paragraph (1) of the New Corporation Tax Act apply to a company split that a corporation carries out on or after the Effective Date, and with regard to a company split that a corporation carried out before the Effective Date, the provisions then in force continue to govern.

With regard to the application of the provisions of the New Corporation Tax Act and other laws and regulations concerning corporation tax concerning income for a business year of a domestic corporation beginning during the period from the Effective Date to March 31, 2018, the phrase "23.2 percent" in Article 66, paragraph (1) of the New Corporation Tax Act is deemed to be replaced with "23.4 percent".

With regard to the application of the provisions of the New Corporation Tax Act, other laws and regulations concerning corporation tax and the Local Corporation Tax Act concerning consolidated income for a consolidated business year of a consolidated parent corporation beginning during the period from the Effective Date to March 31, 2018, the phrase "23.2 percent" in Article 81-12, paragraph (1) of the New Corporation Tax Act is deemed to be replaced with "23.4 percent".

The provisions of Article 142-2, paragraph (1) of the New Corporation Tax Act apply to the amount of a refund prescribed in Article 142-2, paragraph (1), item (iv) of the New Corporation Tax Act pertaining to a business year with refunds prescribed in Article 144-13, paragraph (1), item (i) of the New Corporation Tax Act of a foreign corporation that begins on or after October 1, 2019, and with regard to the amount of a refund pertaining to a business year with refunds, prescribed in Article 144-13, paragraph (1), item (i) of the Corporation Tax Act prior to the amendment by the provisions of Article 2 (hereinafter referred to as "the Former Corporation Tax Act" in this Article), of a foreign corporation that began before that date, which amount is prescribed in Article 142-2, paragraph (1), item (iv) of the Former Corporation Tax Act, the provisions then in force continue to govern.

With regard to the application of the provisions of the New Corporation Tax Act and other laws and regulations concerning corporation tax concerning income for a business year of a foreign corporation beginning during the period from the Effective Date to March 31, 2018, the phrase "23.2 percent" in Article 143, paragraph (1) of the New Corporation Tax Act is deemed to be replaced with "23.4 percent".

With regard to the application of penal provisions to acts committed before this Act (or, for the provisions set forth in the items of Article 1 of the Supplementary Provisions, those provisions; the same applies hereinafter in this Article) comes into effect and to acts committed after this Act comes into effect in the cases where the provisions then in force continue to govern pursuant to the provisions of these Supplementary Provisions, the provisions then in force continue to govern.

Beyond what is provided for in these Supplementary Provisions, transitional measures necessary in connection with the enforcement of this Act are specified by Cabinet Order.