Article 73-27-6Exemption, etc. from Tax Liability for Real Property Acquisition Tax Imposed on Acquisition of Farmland by Farmland Intermediary Management Organization

①Where a farmland intermediary management organization prescribed in Article 2, paragraph (4) of the Act on the Promotion of Farmland Intermediary Management Services (Act No. 101 of 2013) has, through carrying out the business listed in Article 7, item (i) of the Act on Promotion of Improvement of Agricultural Management Foundation (Act No. 65 of 1980) (excluding that which acquires agricultural land, etc. for the purpose of leasing the agricultural land, etc. prescribed in Article 4, paragraph (1) of that Act for a lease period (excluding any extension of the lease period) exceeding five years; hereinafter referred to as the "farmland sales business" in this paragraph), acquired farmland, pasture land or land appropriate for development into farmland within an area specified by Cabinet Order, and has, within five years from the date of acquisition (or, where, within five years from that date, a land improvement project prescribed in Article 2, paragraph (2) of the Land Improvement Act that is listed in item (ii), (iii), (v) or (vii) of that paragraph (or, where a survey relating to those projects based on a plan determined by an administrative organ of the State is conducted, that survey) has commenced on these lands, and the day on which one year has elapsed after the date specified by Cabinet Order as the date of completion of those projects will come after the day on which five years have elapsed from the date of acquisition of these lands, until the day on which that one year has elapsed), sold or exchanged these lands (or, where land appropriate for development into farmland has been developed, the farmland after development) through carrying out the farmland sales business, or made a capital contribution in kind through carrying out the business listed in Article 7, item (iii) of the Act on Promotion of Improvement of Agricultural Management Foundation, the prefecture is to exempt that farmland intermediary management organization from the tax liability relating to local government levies on the real property acquisition tax imposed on the acquisition of these lands by that farmland intermediary management organization.

②In the case of assessing and collecting the real property acquisition tax imposed on the acquisition of real property, where the acquirer of that real property has filed a declaration, as provided by the Prefectural Ordinance of that prefecture, to the effect that the provisions of the preceding paragraph are to apply to that real property acquisition tax, and the declaration is recognized as true, the prefecture is to defer collection of the real property acquisition tax amount relating to that real property, for a period within five years from the date of that acquisition (or, where that real property relates to a land improvement project prescribed in that paragraph, the period from that date until the day on which the one year prescribed in that paragraph has elapsed).

③The provisions of Article 73-25, paragraphs (2) and (3), Article 73-26 and Article 73-27 apply mutatis mutandis to the deferral of collection of the real property acquisition tax amount and the cancellation thereof in the case referred to in the preceding paragraph, and to the refund of local government levies relating to that real property acquisition tax in the case referred to in paragraph (1).