Act on Special Measures Concerning Taxation

In the case where a person prescribed in Article 109-7, paragraph (2), item (i) of the Act on Special Measures concerning Urban Reconstruction has acquired, during the period from April 1, 2021 to March 31, 2029, ownership, superficies rights or rights of lease of land or a building prescribed in item (ii) of that paragraph, based on a promotion plan for establishment, etc. of rights in residence inducement areas, etc. prescribed in paragraph (1) of that Article, the rate of registration and license tax on the registration of transfer of ownership, or of creation of superficies rights or rights of lease, of that land or building is, notwithstanding the provisions of Article 9 of the Registration and License Tax Act, 10/1,000 for the registration of transfer of ownership and 5/1,000 for the registration of creation of superficies rights or rights of lease, limited to a registration received within one year on or after the date of public notice under the provisions of Article 109-9 of that Act relating to that promotion plan for establishment, etc. of rights in residence inducement areas, etc. pursuant to the provisions of Order of the Ministry of Finance.

In the case where a specific purpose company (meaning a specific purpose company prescribed in Article 2, paragraph (3) of the Act on the Securitization of Assets; hereinafter the same applies in this paragraph) that satisfies the requirements listed in item (i) has acquired, during the period from the date of enforcement of the Act Partially Amending the Act on the Securitization of Specified Assets by Specific Purpose Companies, etc. (Act No. 97 of 2000) to March 31, 2027, ownership of real property (meaning residential land or a building under the Real Estate Brokerage Act; hereinafter the same applies in this Article) out of specified assets (meaning specified assets prescribed in paragraph (1) of that Article; hereinafter the same applies in this paragraph) based on an asset securitization plan prescribed in paragraph (4) of that Article (hereinafter referred to as an "asset securitization plan" in this paragraph) (limited to the case where the specified assets managed by that specific purpose company satisfy the requirements listed in item (ii)), the rate of registration and license tax on the registration of transfer of ownership of that real property is 13/1,000, notwithstanding the provisions of Article 9 of the Registration and License Tax Act, limited to a registration received within one year after that acquisition pursuant to the provisions of Order of the Ministry of Finance.

satisfying all of the following requirements:

it has made the notification under the provisions of Article 4, paragraph (1) of the Act on the Securitization of Assets;

the asset securitization plan contains a provision to the effect that asset-backed securities prescribed in Article 2, paragraph (11) of the Act on the Securitization of Assets are to be issued;

the asset securitization plan contains a provision to the effect that the ratio of the total of the values (meaning the values stated in the contract documents prescribed in Article 4, paragraph (3), item (iii) of the Act on the Securitization of Assets; hereinafter the same applies in this item) of specified real property (meaning, out of the specified assets acquired by the specific purpose company, real property, a right of lease or superficies right of real property, or a beneficial interest in a trust that entrusts ownership of real property or a right of lease or superficies right of land) to the total of the values of the specified assets held by that specific purpose company (referred to as the "ratio of specified real property" in the following item) is to be 75 percent or more;

where the asset securitization plan contains a provision concerning specified borrowing prescribed in Article 2, paragraph (12) of the Act on the Securitization of Assets, the specified borrowing is not from a person who has contributed specified equity prescribed in paragraph (6) of that Article to that specific purpose company;

satisfying any of the following requirements:

the ratio of specified real property is 75 percent or more;

the ratio of specified real property will become 75 percent or more as a result of the specific purpose company acquiring the real property for which it seeks the application of the provisions of this paragraph.

In the case where a trust company, etc. (meaning a trust company, etc. prescribed in Article 3 of the Act on Investment Trusts and Investment Corporations (hereinafter referred to as the "Investment Corporation Act" in this paragraph and the following paragraph); hereinafter the same applies in this paragraph) has, as a result of having accepted an investment trust (meaning an investment trust prescribed in Article 2, paragraph (3) of the Investment Corporation Act; hereinafter the same applies in this paragraph) that satisfies the requirements listed in item (i), acquired, during the period from April 1, 2001 to March 31, 2027, ownership of real property out of specified assets (meaning specified assets prescribed in Article 2, paragraph (1) of the Investment Corporation Act; hereinafter the same applies in this paragraph and the following paragraph) in accordance with the investment trust deed (meaning the investment trust deed prescribed in Article 4, paragraph (1) or Article 49, paragraph (1) of the Investment Corporation Act; hereinafter the same applies in this paragraph) (limited to the case where the specified assets managed in that investment trust satisfy the requirements listed in item (ii)), the rate of registration and license tax on the registration of transfer of ownership of that real property is 13/1,000, notwithstanding the provisions of Article 9 of the Registration and License Tax Act, limited to a registration received within one year after that acquisition pursuant to the provisions of Order of the Ministry of Finance.

satisfying all of the following requirements:

the investment trust deed contains, as the investment policy of the investment trust, a provision to the effect that the ratio of the total of the values of specified real property (meaning, out of the specified assets acquired by the trust company, etc., real property, a right of lease or superficies right of real property, or a beneficial interest in a trust that entrusts ownership of real property or a right of lease or superficies right of land) to the total of the values of the specified assets out of the trust property of that investment trust (referred to as the "ratio of specified real property" in the following item) is to be 75 percent or more;

where the investment trust is an investment trust with instructions from the settlor prescribed in Article 2, paragraph (1) of the Investment Corporation Act, the investment trust management company prescribed in paragraph (11) of that Article relating to that investment trust has obtained the authorization under Article 50-2, paragraph (1) of the Real Estate Brokerage Act;

where the trustee borrows funds necessary for the trust, the borrowing is from a qualified institutional investor referred to in Article 2, paragraph (3), item (i) of the Financial Instruments and Exchange Act;

satisfying any of the following requirements:

the ratio of specified real property is 75 percent or more;

the ratio of specified real property will become 75 percent or more as a result of the trust company, etc. acquiring the real property for which it seeks the application of the provisions of this paragraph.

In the case where an investment corporation (meaning an investment corporation prescribed in Article 2, paragraph (12) of the Investment Corporation Act; hereinafter the same applies in this paragraph) that satisfies the requirements listed in item (i) has acquired, during the period from April 1, 2001 to March 31, 2027, ownership of real property out of specified assets in accordance with the articles of incorporation prescribed in Article 67, paragraph (1) of the Investment Corporation Act (hereinafter referred to as the "articles of incorporation" in this paragraph) (limited to the case where the specified assets managed by that investment corporation satisfy the requirements listed in item (ii)), the rate of registration and license tax on the registration of transfer of ownership of that real property is 13/1,000, notwithstanding the provisions of Article 9 of the Registration and License Tax Act, limited to a registration received within one year after that acquisition pursuant to the provisions of Order of the Ministry of Finance.

satisfying all of the following requirements:

the articles of incorporation contain, as the asset management policy, a provision to the effect that the ratio of the total of the values of specified real property (meaning, out of the specified assets acquired by the investment corporation, real property, a right of lease or superficies right of real property, or a beneficial interest in a trust that entrusts ownership of real property or a right of lease or superficies right of land) to the total of the values of the specified assets held by that investment corporation (referred to as the "ratio of specified real property" in the following item) is to be 75 percent or more;

it has been registered under Article 187 of the Investment Corporation Act;

the asset management company prescribed in Article 2, paragraph (21) of the Investment Corporation Act to which the investment corporation has entrusted the business relating to the management of its assets pursuant to the provisions of Article 198 of the Investment Corporation Act has obtained the authorization under Article 50-2, paragraph (1) of the Real Estate Brokerage Act;

where it borrows funds, the borrowing is from a qualified institutional investor referred to in Article 2, paragraph (3), item (i) of the Financial Instruments and Exchange Act;

satisfying any of the following requirements:

the ratio of specified real property is 75 percent or more;

the ratio of specified real property will become 75 percent or more as a result of the investment corporation acquiring the real property for which it seeks the application of the provisions of this paragraph.