Article 72-24-5Calculation of the Value Added, etc. of a Corporation Conducting a Mineral Extraction Business and a Mineral Refining Business in an Integrated Manner

①The value added and income to be used as the tax base of the enterprise tax to be paid by a corporation that conducts a mineral extraction business and a refining business in an integrated manner are the amounts obtained by multiplying the value added and the income calculated across those businesses, respectively, by the figure obtained by dividing the amount obtained by deducting the price of the minerals that is the tax base of the mineral product tax to be paid by the corporation for minerals extracted during the computation period of the tax base from the amount to be received for the products of those businesses during the computation period of the tax base, by the amount to be received for those products.

②Where the corporation in the preceding paragraph is able to separate the value added and income relating to the mineral extraction business from the value added and income relating to the refining business, the value added and income to be used as the tax base of the enterprise tax relating to the refining business of that corporation are, notwithstanding the provisions of that paragraph, the value added and income calculated separately.

③In the case referred to in the preceding paragraph, the corporation must obtain the approval of the prefectural governor of the prefecture where its office or place of business is located (for a corporation that conducts business with offices or places of business established in two or more prefectures, the prefectural governor of the prefecture where its principal office or place of business is located) for the method of that separate calculation. The same applies where it intends to change the method of that separate calculation.