①The accepted value of property for payment in kind is the value of that property that served as the basis for calculating the taxable value; provided, however, that if a significant change has occurred in the condition of that property by the time of acceptance, the district director may determine the accepted value of that property according to its condition at the time of acceptance.

②Inheritance tax corresponding to the amount of tax for which permission for payment in kind has been obtained is deemed to have been paid at the time when the delivery of the property for payment in kind, the registration of the transfer of ownership, or another requirement under laws and regulations for asserting rights against third parties has been satisfied.

③Where inheritance tax has been paid after obtaining permission for payment in kind and there is an amount of overpayment or payment by mistake with respect to that inheritance tax, the property applied to that payment in kind may, upon application by the person liable for tax, be applied to the refund of that amount of overpayment or payment by mistake; provided, however, that this does not apply where that property has been converted into money, where it is being put to official or public use or is reliably expected to be so used, or where that amount of overpayment or payment by mistake is less than one-half of the accepted value of that property.

④The value of the property in the case where it is applied to the refund of an amount of overpayment or payment by mistake pursuant to the provisions of the preceding paragraph is the accepted value (or, where the State has spent beneficial expenses on that property, the amount obtained by adding the amount corresponding to the amount of those expenses).

⑤A person who wishes to receive a refund of an amount of overpayment or payment by mistake with property applied to payment in kind pursuant to the provisions of paragraph (3) must submit to the district director who granted that permission for payment in kind a written application stating that amount of overpayment or payment by mistake, the type and accepted value of the property for which the refund is sought, and other matters specified by Ministry of Finance Order.

⑥In the case where a person wishes to receive a refund of an amount of overpayment or payment by mistake with property applied to payment in kind pursuant to the provisions of paragraph (3), if that amount of overpayment or payment by mistake is less than the value of that property, the person seeking that refund must pay to the State in advance an amount corresponding to the difference between the value of that property and that amount of overpayment or payment by mistake.

⑦In addition to what is provided for in the preceding paragraphs, the matters necessary for the procedures for accepting property for payment in kind or for refunding amounts of overpayment or payment by mistake are to be specified by Cabinet Order.

①Where an application has been made pursuant to the provisions of Article 41, paragraph (1), and the district director has rejected the application for payment in kind pursuant to the provisions of Article 42, paragraph (2) because the district director found that there was no reason that made it difficult to pay in money by deferment of payment, or has rejected the application with respect to a part of the amount of inheritance tax relating to the application pursuant to the provisions of Article 42, paragraph (2) because the district director found that the amount for which payment is difficult prescribed in Article 41, paragraph (1) was less than the amount relating to the application, the district director may, upon an application by the applicant made within 20 days from the day following the date of those rejections, grant permission to defer payment of the amount of inheritance tax subject to those rejections, up to the amount specified by Cabinet Order as the portion of that amount of inheritance tax that is difficult to pay in money in a lump sum.

②The provisions of Article 38, paragraphs (1), (2) and (4), Article 39 (excluding paragraph (29)) and Article 40 apply mutatis mutandis to deferment of payment under the provisions of the preceding paragraph. In this case, the necessary technical replacement of terms is to be specified by Cabinet Order.

①Where an application has been made pursuant to the provisions of Article 41, paragraph (1), and the district director has rejected that application pursuant to the provisions of Article 42, paragraph (2) because the property for payment in kind relating to the application for permission for payment in kind under Article 41, paragraph (1) falls under property unsuitable for management or disposal or property of lower priority for payment in kind, the district director may, upon an application by the applicant made within 20 days from the day following the date of that rejection (limited to an application relating to property for payment in kind other than that property for payment in kind), permit payment in kind up to the amount specified by Cabinet Order as the amount for which payment is difficult prescribed in Article 41, paragraph (1).

②The provisions of Articles 41 through 43 apply mutatis mutandis to payment in kind under the preceding paragraph. In this case, the necessary technical replacement of terms is specified by Cabinet Order.

①If, among the real property for which the district director has granted permission for payment in kind pursuant to Article 42, paragraph (2) (including as applied mutatis mutandis pursuant to paragraph (2) of the preceding Article), there is real property that is subject to a leasehold or another right to use real property, and the person who received that permission for payment in kind subsequently pays the inheritance tax subject to the payment in kind in a lump sum in money, or pays it after receiving permission to defer payment pursuant to paragraph (3) of the following Article, the district director may, even after the acceptance of that real property, approve the withdrawal of payment in kind of that real property upon an application of that person made within one year from the day following the day on which that permission for payment in kind was received; provided, however, that this does not apply if that real property has been converted into money or is being used for governmental or public purposes or is reliably expected to be so used.

②A person who intends to apply for the withdrawal of payment in kind under the preceding paragraph must submit to the competent district director with jurisdiction over the place for tax payment a written application stating the reason for which the person seeks approval of that withdrawal and other particulars specified by Ministry of Finance Order.

③If a written application has been submitted pursuant to the preceding paragraph, the district director is to investigate whether the applicant and the matters concerning the application fall under paragraph (1), and, based on that investigation, is to approve the application or reject it within three months from the day following the day on which the written application was submitted.

④In the case referred to in the preceding paragraph, if an application for withdrawal of payment in kind is made for part of two or more items of real property for which permission for payment in kind was granted, or if the real property for which permission for payment in kind was granted is one item and an application for withdrawal of payment in kind is made for part of it after dividing it (limited to the case where, among the property for payment in kind other than the property for which those applications were made, there is property specified by Cabinet Order as unsuitable for management or disposal as a result of that withdrawal of payment in kind (referred to as "unsuitable property" in this Article)), the district director may request that the unsuitable property be added to the property subject to the application for withdrawal of payment in kind, and may approve that withdrawal or reject the application under that paragraph after the applicant adds the unsuitable property to that property. In this case, with regard to the application of that paragraph, the phrase "three months from the day following the day on which the written application was submitted" in that paragraph is deemed to be replaced with "two months from the day following the day on which the notice under paragraph (6) was issued".

⑤In the case referred to in paragraph (3), if, among the inheritance tax subject to the withdrawal of payment in kind, there is inheritance tax to be paid in a lump sum in money or beneficial expenses under paragraph (9) to be paid, the district director may approve the withdrawal of payment in kind under paragraph (3) or reject the application for withdrawal of payment in kind after that inheritance tax and those beneficial expenses are paid in full within one month from the day following the day on which the notice under paragraph (10) was issued. In this case, with regard to the application of paragraph (3), the phrase "three months from the day following the day on which the written application was submitted" in that paragraph is deemed to be replaced with "two months from the day following the day on which the notice under paragraph (10) was issued".

⑥When the district director approves the withdrawal of payment in kind under paragraph (3), rejects the application for that withdrawal, or requests under paragraph (4) the addition of unsuitable property to the property subject to that application, the district director is to notify the applicant of it by a document stating the matters prescribed in each of the following items according to the case classification set forth in that item:

⑦If a request has been made for the addition of unsuitable property to the property subject to the application for withdrawal of payment in kind under paragraph (4), and the applicant does not comply with the request within 20 days from the day following the day on which the applicant received the notice under the preceding paragraph (limited to item (iii)) (or, if the district director finds that there are unavoidable circumstances preventing the applicant from complying with the request within that period, by the day designated by the district director), the applicant is deemed to have withdrawn the application.

⑧With regard to the application of paragraph (3) in the case where the district director finds that there are unavoidable circumstances as prescribed in the preceding paragraph, the phrase "three months from the day following the day on which the written application was submitted" in that paragraph is deemed to be replaced with "one month from the day following the day designated by the district director under paragraph (7)".

⑨A person who intends to receive approval of the withdrawal of payment in kind under paragraph (3) must pay money equivalent to the amount of beneficial expenses, if any, that the State has expended for the property subject to that withdrawal; provided, however, that this does not apply if the approval could not be received for that property.

⑩If the district director approves the withdrawal of payment in kind under paragraph (3) and, among the inheritance tax subject to that withdrawal, there is inheritance tax to be paid in a lump sum in money or beneficial expenses under the preceding paragraph to be paid, the district director is to notify the applicant of it in advance by a document stating the amount of that inheritance tax and the amount of those beneficial expenses. In this case, if the applicant does not pay in full the inheritance tax and the beneficial expenses subject to the notice within one month from the day following the day on which the notice was issued, the applicant is deemed to have withdrawn the application for that withdrawal.

⑪If the district director neither approves the withdrawal of payment in kind nor rejects the application within the period prescribed in paragraph (3) (or, if paragraph (4), paragraph (5) or paragraph (8) is applicable, within the period prescribed in paragraph (3) as applied with the terms replaced pursuant to those provisions), the withdrawal is deemed to have been approved.

⑫In addition to what is provided for in the preceding paragraphs, other particulars necessary for procedures concerning the withdrawal of payment in kind are specified by Cabinet Order.