Article 171Acquisition Cost of Forested Land Acquired on or before December 31, 1952

The amount calculated, as prescribed by Cabinet Order, as the value on January 1, 1953 of the forested land prescribed in Article 61, paragraph (1) (Acquisition Costs of Assets Acquired Prior to December 31, 1952) of the Act is the value obtained by adding, to the standard assessed value of the forested land by species and age of trees on that day, an adjustment for differences in soil fertility, region, and other circumstances relating to that forested land. In this case, the standard assessed value and the method of the adjustment to be added to it are as determined and publicly announced by the Commissioner of the National Tax Agency as to be used on that day for the calculation of the tax base for inheritance tax and gift tax with regard to forested land.