The net interest paid for each business year in Article 72-14 is the amount obtained by deducting from the total amount of the amounts of interest paid for each business year (limited to those that are included in the amount of deductible expenses in calculating the income for corporation tax for that business year (excluding those specified by Cabinet Order), and those that are specified by Cabinet Order and paid in that business year) the total amount of the amounts of interest received for each business year (limited to those that are included in the amount of gross profits in calculating the income for corporation tax for that business year), up to the limit of the former total amount.
The interest paid in the preceding paragraph means interest on debts that a corporation pays in each business year (including those specified by Cabinet Order as similar thereto).
The interest received in paragraph (1) means interest that a corporation receives in each business year (including those specified by Cabinet Order as similar thereto).
Read this with the articles around it
business yearmachine translation
「事業年度」
In the section on enterprise tax (事業税), a business year set by laws and regulations, articles of incorporation, acts of endowment, rules or by-laws, or a similar period, or, for a corporation with none, a period set as paragraphs 2 and 3 of Article 72-13 provide.
Defined inArticle 72-13, paragraph (1)· applies only in this section