This Act comes into effect on April 1, 2018; provided, however, that the provisions set forth in the following items come into effect on the dates specified respectively in those items:

①The provisions of Articles 1-3 and 1-4 of the Inheritance Tax Act as amended by the provisions of Article 4 (referred to as the "New Inheritance Tax Act" in this Article) apply to inheritance tax or gift tax on property acquired by inheritance or bequest (including a gift that takes effect upon the death of the person who made the gift; the same applies hereinafter, except in Article 75, paragraph (1) of the Supplementary Provisions) or by gift (excluding a gift that takes effect upon the death of the person who made the gift; the same applies hereinafter, except in that paragraph) on or after the Effective Date, and the provisions then in force continue to govern inheritance tax or gift tax on property acquired by inheritance or bequest or by gift before the Effective Date.

②If, during the period from the Effective Date to March 31, 2019, a non-resident foreign national prescribed in Article 31, paragraph (2) of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc., and Other Matters (Act No. 4 of 2017) makes a gift of property to a person listed in Article 1-4, paragraph (1), item (ii), (b) of the New Inheritance Tax Act, that non-resident foreign national is deemed to be a nonresident donor prescribed in paragraph (3), item (iii) of that Article.

③The provisions of Article 28, paragraphs (5) through (7) of the New Inheritance Tax Act apply to gift tax on property acquired by gift on or after the Effective Date.

④The provisions of Article 59, paragraph (5) of the New Inheritance Tax Act apply to reports prescribed in that paragraph that are to be submitted on or after January 1, 2021, and the provisions then in force continue to govern reports prescribed in Article 59, paragraph (5) of the Inheritance Tax Act before the amendment by the provisions of Article 4 that are to be submitted before that date.

⑤In the case where a general incorporated association or similar corporation prescribed in Article 66-2, paragraph (2), item (i) of the New Inheritance Tax Act (referred to as a "general incorporated association or similar corporation" in this paragraph) was established before the Effective Date, the provisions of that Article apply to inheritance tax relating to the death of a person who is a director of that general incorporated association or similar corporation (including a person for whom five years have not elapsed since the day on which the person ceased to be a director of that general incorporated association or similar corporation) on or after April 1, 2021.

⑥In the case referred to in the preceding paragraph, with regard to the application of the provisions of Article 66-2, paragraph (2), item (iii), (b) of the New Inheritance Tax Act, the period before the Effective Date is not to be regarded as falling under the period exceeding one-half referred to in (b) of that item.

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.