Income Tax Act

If a Resident has transferred Securities and similar interests as prescribed in Article 60-2, paragraph (1) (Special Provisions on Capital Gains and Similar Income upon Departure from Japan) that the Resident acquired by inheritance or bequest, and, on or after the date of the transfer, the circumstances come to fall under any of the cases set forth in the following items because the main clause of paragraph (6) of that Article (including when applied pursuant to paragraph (7) of that Article; the same applies in the following paragraph) or the first sentence of Article 60-3, paragraph (6) (Special Provisions on Capital Gains and Similar Income If Assets Are Transferred to a Nonresident by Gift or Similar Means) (including when applied pursuant to paragraph (7) of that Article; the same applies in the following paragraph) has been applied, or because an Amended Return has been filed under Article 151-6, paragraph (1) (Special Provisions on Amended Returns upon Division of the Estate or Similar Event) or a Reassessment has been made based on a request for Reassessment under the following Article, with regard to the income tax of the decedent involved in that inheritance or bequest for the year that includes the date of commencement of the succession, and the circumstances come to fall under a case set forth in either of the items of Article 153-2, paragraph (1) (Special Provisions on Requests for Reassessment If a Person Who Has Made a Departure from Japan Returns to Japan or in Similar Cases) with regard to the Resident's income tax for the year that includes the date of the transfer, the Resident (including the Resident's heir) may file a request for Reassessment with the district director for the income tax for the year that includes the date of the transfer within four months from the date specified in the relevant item:

if, as a result of the application of the proviso to Article 60-2, paragraph (4), the amount to be deducted as necessary expenses or acquisition cost in calculating the amount of business income, capital gains, or miscellaneous income from the transfer of the Securities and similar interests has increased: the date on which an Amended Return was filed under Article 151-2, paragraph (1) (Special Provisions on Amended Returns If a Person Who Has Made a Departure from Japan Returns to Japan or in Similar Cases) for the income tax of the decedent, or the date on which a Reassessment was made based on a request for Reassessment under Article 153-2, paragraph (1);

if, because the proviso to Article 60-3, paragraph (4) has been applied or the main clause of that paragraph has ceased to apply, the amount to be deducted as necessary expenses or acquisition cost in calculating the amount of business income, capital gains, or miscellaneous income from the transfer of the Securities and similar interests has increased: the date on which an Amended Return was filed under Article 151-3, paragraph (1) (Special Provisions on Amended Returns If a Nonresident Donee or Similar Person Returns to Japan or in Similar Cases) or Article 151-6, paragraph (1) for the income tax of the decedent, or the date on which a Reassessment was made based on a request for Reassessment under paragraph (1) of the preceding Article or the following Article.

If a Resident has settled unsettled margin transactions or similar transactions as prescribed in Article 60-2, paragraph (2) or unsettled derivatives transactions as prescribed in paragraph (3) of that Article, the contracts for which the Resident received by inheritance or bequest, and, on or after the date of the settlement, the circumstances come to fall under any of the cases set forth in the following items because the main clause of paragraph (6) of that Article or the first sentence of Article 60-3, paragraph (6) has been applied, or because an Amended Return has been filed under Article 151-6, paragraph (1) or a Reassessment has been made based on a request for Reassessment under the following Article, with regard to the income tax of the decedent involved in that inheritance or bequest for the year that includes the date of commencement of the succession, and the circumstances come to fall under a case set forth in either of the items of Article 153-2, paragraph (1) with regard to the Resident's income tax for the year that includes the date of the settlement, the Resident (including the Resident's heir) may file a request for Reassessment with the district director for the income tax for the year that includes the date of the settlement within four months from the date specified in the relevant item:

if, as a result of the application of the proviso to Article 60-2, paragraph (4), the amount equivalent to the amount of loss to be added in calculating the amount of business income or miscellaneous income from the settlement of the unsettled margin transactions or similar transactions or unsettled derivatives transactions has decreased: the date on which an Amended Return was filed under Article 151-2, paragraph (1) for the income tax of the decedent, or the date on which a Reassessment was made based on a request for Reassessment under Article 153-2, paragraph (1);

if, because the proviso to Article 60-3, paragraph (4) has been applied or the main clause of that paragraph has ceased to apply, the amount equivalent to the amount of loss to be added in calculating the amount of business income or miscellaneous income from the settlement of the unsettled margin transactions or similar transactions or unsettled derivatives transactions has decreased: the date on which an Amended Return was filed under Article 151-3, paragraph (1) or Article 151-6, paragraph (1) for the income tax of the decedent, or the date on which a Reassessment was made based on a request for Reassessment under paragraph (1) of the preceding Article or the following Article.

If, due to a division of the estate or similar event as prescribed in Article 151-6, paragraph (1) (Special Provisions on Amended Returns upon Division of the Estate or Similar Event) that has occurred with regard to a Resident to whom the provisions of Article 60-3, paragraphs (1) through (3) (Special Provisions on Capital Gains and Similar Income If Assets Are Transferred to a Nonresident by Gift or Similar Means) have been applied for the income tax for the year that includes the date of commencement of the succession, there has been a decrease or increase in the covered assets as prescribed in that paragraph involved in the inheritance or bequest that were transferred to a Nonresident, and as a result the circumstances come to fall under a case set forth in either of the items of Article 153-2, paragraph (1) (Special Provisions on Requests for Reassessment If a Person Who Has Made a Departure from Japan Returns to Japan or in Similar Cases) with regard to the Resident's income tax for the year that includes the date of commencement of the succession, the Resident's heir may file a request for Reassessment with the district director within four months from the date on which the division of the estate or similar event occurred.

A person who has filed a Tax Return for the income tax for the year that includes the date of a departure from Japan as prescribed in Article 60-2, paragraph (1) (Special Provisions on Capital Gains and Similar Income upon Departure from Japan) (including that person's heir) may file a request for Reassessment with the district director within four months from the date on which the person comes to pay foreign income tax, if, as a result of coming to pay foreign income tax as prescribed in Article 95-2, paragraph (1) (Special Provisions on Foreign Tax Credit in Connection with the Special Provisions on Capital Gains and Similar Income upon Departure from Japan) to which paragraph (1) of that Article (including as applied mutatis mutandis pursuant to paragraph (2) of that Article) applies, the circumstances come to fall under the case set forth in Article 153-2, paragraph (1), item (i) (Special Provisions on Requests for Reassessment If a Person Who Has Made a Departure from Japan Returns to Japan or in Similar Cases) with regard to the income tax for that year.