Article 58Special Provisions on Capital Gains if the Resident Exchanges Fixed Assets
第五十八条（固定資産の交換の場合の譲渡所得の特例）
If, in any year, a Resident exchanges a Fixed Asset that the Resident has held for at least one year and which is as set forth in one of the following items, for a Fixed Asset held by another person for at least one year which is as set forth in the item (other than one that the other person is found to have acquired solely for the purpose of the exchange) and uses the asset as set forth in the item which the Resident acquires in the exchange (hereinafter referred to as the "acquired asset" in this Article) for the same purpose as that for which the asset as set forth in the item which the Resident has transferred in the exchange (hereinafter referred to as the "transferred asset" in this Article) was used immediately prior to the transfer, for the purpose of applying Article 33 (Capital Gains), the transferred asset (other than a part thereof that is equivalent to the value of any monies or other assets acquired along with the acquired assets) is deemed not to have been transferred:
居住者が、各年において、一年以上有していた固定資産で次の各号に掲げるものをそれぞれ他の者が一年以上有していた固定資産で当該各号に掲げるもの（交換のために取得したと認められるものを除く。）と交換し、その交換により取得した当該各号に掲げる資産（以下この条において「取得資産」という。）をその交換により譲渡した当該各号に掲げる資産（以下この条において「譲渡資産」という。）の譲渡の直前の用途と同一の用途に供した場合には、第三十三条（譲渡所得）の規定の適用については、当該譲渡資産（取得資産とともに金銭その他の資産を取得した場合には、当該金銭の額及び金銭以外の資産の価額に相当する部分を除く。）の譲渡がなかつたものとみなす。
land (including superficies and leasehold rights for the purpose of owning buildings or structures, and rights relating to cultivation (including the cultivation of crops deemed to constitute cultivation pursuant to the provisions of Article 43, paragraph (1) of the Cropland Act) on cropland as prescribed in Article 2, paragraph (1) (Definitions) of the Cropland Act (Act No. 229 of 1952) (including cropland as prescribed in Article 2, paragraph (1) of that Act to which that Act applies by deeming the cultivation of crops to constitute cultivation pursuant to the provisions of Article 43, paragraph (1) (Special Provisions on Facilities for Advanced Crop Cultivation) of that Act));
土地（建物又は構築物の所有を目的とする地上権及び賃借権並びに農地法（昭和二十七年法律第二百二十九号）第二条第一項（定義）に規定する農地（同法第四十三条第一項（農作物栽培高度化施設に関する特例）の規定により農作物の栽培を耕作に該当するものとみなして適用する同法第二条第一項に規定する農地を含む。）の上に存する耕作（同法第四十三条第一項の規定により耕作に該当するものとみなされる農作物の栽培を含む。）に関する権利を含む。）
a building (including any attached facilities and structures);
建物（これに附属する設備及び構築物を含む。）
machinery and equipment;
機械及び装置
a vessel;
船舶
a mining right (this includes a mining lease right, a right of quarrying, or any other right to dig or quarry soil and stone).
鉱業権（租鉱権及び採石権その他土石を採掘し、又は採取する権利を含む。）
The provisions of the preceding paragraph do not apply if the difference between the value of the acquired asset and that of the transferred asset at the time of the exchange referred to in that paragraph exceeds 20% of whichever asset is of greater value.
The provisions of paragraph (1) apply only if a Tax Return indicates recourse to the application of the provisions of that paragraph, indicates the values of the acquired asset and transferred asset, and gives any other information prescribed by Ministry of Finance Order.
Even if no Tax Return is filed or if a Tax Return is filed that is not filled out as referred to in the preceding paragraph, the district tax office director may apply the provisions of paragraph (1) on finding there to be unavoidable circumstances for the Resident's failure to file the Tax Return or fill it out in that manner.
A Cabinet Order provides for the necessary particulars concerning the calculation of the depreciation allowance prescribed in Article 49, paragraph (1) (Calculating Depreciation Allowances for Depreciable Assets; Depreciation Methods) which is required to be made for an acquired asset by a Resident subject to the application of paragraph (1), as well as for the necessary particulars concerning the calculation of the amount of capital gains in the event that such a Resident transfers the acquired asset.