Act on Special Measures Concerning Taxation

With regard to the reports and statements prescribed in Article 8-4, paragraph (9), Article 9-4-2, paragraph (2), Article 29-2, paragraph (6) or (7), Article 37-11-3, paragraph (7), Article 37-14, paragraph (41), Article 37-14-2, paragraph (27), Article 38-2, paragraph (4) or Article 41-2-3, paragraph (2) that are to be submitted under those provisions (hereinafter referred to as "statements and similar reports" in this Article), where the number calculated as provided by Order of the Ministry of Finance as the number of sheets of those statements and similar reports that should have been submitted during the period from January 1 to December 31 of the year before the year preceding the year that includes the due date for submitting those statements and similar reports is 30 or more, the person required to submit those statements and similar reports must, notwithstanding those provisions, provide the matters prescribed in those provisions that are to be stated in those statements and similar reports (hereinafter referred to as the "required particulars" in this Article) to the district director prescribed in those provisions by either of the following methods:

If a person required to submit statements and similar reports has obtained, as provided by Cabinet Order, the approval of the competent district director (meaning the district director prescribed in Article 8-4, paragraph (9), Article 9-4-2, paragraph (2), Article 29-2, paragraph (6) or (7), Article 37-11-3, paragraph (7), Article 37-14, paragraph (41), Article 37-14-2, paragraph (27), Article 38-2, paragraph (4) or Article 41-2-3, paragraph (2)), the person may, notwithstanding those provisions and the provisions of paragraph (1), provide the required particulars of those statements and similar reports to the district director specified by Order of the Ministry of Finance by either of the methods listed in the items of that paragraph.

With regard to the provision of the required particulars made under the provisions of paragraph (1) or the preceding paragraph and the submission of an optical disc or similar medium made under the provisions of paragraph (2), the statements and similar reports are deemed to have been submitted under the provisions of Article 8-4, paragraph (9), Article 9-4-2, paragraph (2), Article 29-2, paragraph (6) or (7), Article 37-11-3, paragraph (7), Article 37-14, paragraph (41), Article 37-14-2, paragraph (27) , Article 38-2, paragraph (4) or Article 41-2-3, paragraph (2), and those provisions, Article 8-4, paragraphs (10) through (14), Article 9-4-2, paragraphs (3) through (7), Article 29-2, paragraphs (9) through (13), Article 37-11-3, paragraphs (12) through (16), Article 37-14, paragraphs (46) through (50), Article 37-14-2, paragraphs (32) through (36), Article 38-2, paragraphs (5) through (9), Article 41-2-3, paragraphs (3) through (7) and the following Article apply.

If a person has evaded income tax with respect to the amount of income tax prescribed in Article 120, paragraph (1), item (iii) of the Income Tax Act (including as applied mutatis mutandis pursuant to Article 166 of that Act) (or, if there is an amount to be deducted under the provisions of Article 95 or 165-6 of that Act, the amount of income tax calculated under the provisions of that item without applying those provisions) by failing to file, by the due date for filing those returns, an amended return form or a tax return form filed after the due date under the provisions of Article 28-3, paragraph (7), Article 30-2, paragraph (5), Article 31-2, paragraph (89), Article 33-5, paragraph (1), Article 35, paragraph (9), Article 36-3, paragraphs (1) through (3) (including as applied by deeming pursuant to the provisions of Article 36-5), Article 37-2, paragraph (1) or (2) (including as applied by deeming pursuant to the provisions of Article 37-4 and as applied mutatis mutandis pursuant to Article 37-5, paragraph (3) (including as applied by deeming pursuant to the provisions of paragraph (5) of that Article)), Article 41-3, paragraph (1), Article 41-5, paragraph (13) or (14) or Article 41-19-4, paragraph (14), the person who committed the violation is punished by imprisonment for five years or less or a fine of 5,000,000 yen or less, or both.

If a person has failed, without justifiable grounds, to file an amended return form or a tax return form filed after the due date under the provisions of Article 28-3, paragraph (7), Article 30-2, paragraph (5), Article 31-2, paragraph (89), Article 33-5, paragraph (1), Article 35, paragraph (9), Article 36-3, paragraphs (1) through (3) (including as applied by deeming pursuant to the provisions of Article 36-5), Article 37-2, paragraph (1) or (2) (including as applied by deeming pursuant to the provisions of Article 37-4 and as applied mutatis mutandis pursuant to Article 37-5, paragraph (3) (including as applied by deeming pursuant to the provisions of paragraph (5) of that Article)), Article 41-3, paragraph (1), Article 41-5, paragraph (13) or (14) or Article 41-19-4, paragraph (14) by the due date for filing those returns, the person who committed the violation is punished by imprisonment for one year or less or a fine of 500,000 yen or less; provided, however, that the punishment may be remitted depending on the circumstances.

when the person has failed to submit the report prescribed in Article 8-4, paragraph (9), the payment report on redemption money, etc. of listed securities investment trusts, etc. prescribed in Article 9-4-2, paragraph (2), the report on the grant of specified share options prescribed in Article 29-2, paragraph (6) or the report on changes in specified shares, etc. prescribed in paragraph (7) of that Article, the report prescribed in Article 37-11-3, paragraph (7), the report prescribed in Article 37-14, paragraph (41), the report prescribed in Article 37-14-2, paragraph (27), the report prescribed in Article 38-2, paragraph (4) or the statement prescribed in Article 41-2-3, paragraph (2), to the district director no later than the due date for submitting such report or statement, or has made false entries or records in such report or statement and has submitted the report or statement to the district director;

when the person has failed to answer or has given a false answer to the questions asked by the relevant officials pursuant to the provisions of Article 8-4, paragraph (10), Article 9-4-2, paragraph (3), Article 29-2, paragraph (9), Article 37-11-3, paragraph (12), Article 37-14, paragraph (46), Article 37-14-2, paragraph (32), Article 38-2, paragraph (5) or Article 41-2-3, paragraph (3), or has refused, obstructed, or avoided the inspection under those provisions;

when the person, without justifiable grounds, has failed to comply with a request for the presentation or submission of articles under the provisions of Article 8-4, paragraph (10), Article 9-4-2, paragraph (3), Article 29-2, paragraph (9), Article 37-11-3, paragraph (12), Article 37-14, paragraph (46), Article 37-14-2, paragraph (32), Article 38-2, paragraph (5) or Article 41-2-3, paragraph (3), or has presented or submitted books and documents or other articles (including copies thereof) containing false entries or records.

the provisions of Article 62, paragraph (1), Article 62-3, paragraphs (1) and (910), and Article 63, paragraph (1);

A corporation (excluding a public service corporation; hereinafter the same applies in this paragraph) is liable to pay corporation tax on its expenditure for undisclosed purposes, and where a corporation has made an expenditure for undisclosed purposes on or after April 1, 1994, the amount of corporation tax on income for each business year imposed on that corporation is, notwithstanding the provisions of Article 66, paragraphs (1) through (3) and paragraph (6), Article 69, paragraph (19) (including as applied mutatis mutandis pursuant to paragraph (23) or paragraph (24) of that Article), and Article 143, paragraphs (1) and (2) of the Corporation Tax Act, the provisions of Article 42-4, paragraph (8), item (vi), (b) and item (vii) (including as applied mutatis mutandis pursuant to Article 42-4-2, paragraph (2) or Article 42-5, paragraph (3), item (ii)), Article 42-14, paragraphs (1) and (4), Article 62-3, paragraphs (1) and (910), Article 63, paragraph (1), Article 67-2, paragraph (1), and Article 68, paragraph (1), and other provisions of laws and regulations concerning corporation tax, the amount obtained by adding the amount calculated by multiplying the amount of that expenditure for undisclosed purposes by the rate of 40 percent to the amount of corporation tax calculated pursuant to those provisions.

Where a corporation has made a transfer, etc. of land, the amount of corporation tax to be imposed on the corporation on its income for each business year is to be, notwithstanding the provisions of Article 66, paragraphs (1) to (3) and paragraph (6), Article 69, paragraph (19) (including as applied mutatis mutandis pursuant to paragraph (23) or paragraph (24) of that Article), and Article 143, paragraph (1) and paragraph (2) of the Corporation Tax Act, the provisions of Article 42-4, paragraph (8), item (vi), (b) and item (vii) (including as applied mutatis mutandis pursuant to Article 42-4-2, paragraph (2) or Article 42-5, paragraph (3), item (ii)), Article 42-14, paragraph (1) and paragraph (4), Article 62, paragraph (1) and paragraph (910), paragraph (1) of the following Article, Article 67-2, paragraph (1), and Article 68, paragraph (1), and the provisions of other corporation tax-related laws and regulations, the sum of the amount of corporation tax calculated pursuant to these provisions plus the amount obtained by multiplying the total of the amount of capital gain from the transfer, etc. of land (excluding transfer, etc. to which the provisions of paragraph (1) of the following Article applies) by the rate of five percent.

The provisions of paragraph (1) do not apply to the case where a corporation has made transfer of its land, etc. (excluding land, etc. falling under the category of inventory assets; hereinafter the same applies through to paragraph (910) and in paragraph (1112)) during the period between January 1, 1992 and December 31, 2028 and when it has been certified, as specified by Order of the Ministry of Finance, that the transfer of the land, etc. falls under the category of the following transfers of land, etc.:

transfer of land, etc. to an individual or a corporation that is to carry out the development of a unit of residential land for use in residential construction (limited to that which meets the following requirements) after obtaining permission under Article 29, paragraph (1) of the City Planning Act (limited to permission pertaining to development activities prescribed in Article 4, paragraph (12) of that Act that are carried out within an area specified by Cabinet Order within a city planning area prescribed in paragraph (2) of that Article; hereinafter referred to in this item as a "development permit") (in the case where there has been a succession to the status based on a development permit prescribed in Article 44 or Article 45 of that Act, such individual is to be the individual who was the transferor in the succession or the individual who has succeeded to the status; the same applies in paragraph (78)) (in the case where there has been a succession to the status based on a development permit prescribed in Article 44 or Article 45 of that Act, such corporation is to be the corporation that was the transferor in the succession or the corporation that has succeeded to the status; the same applies in paragraph (78)), with the transferred land, etc. being used for the unit of residential land (excluding that which falls under the category of a transfer listed in items (vii) through (ix)):

in cases where permission under Article 29, paragraph (1) of the City Planning Act is not required for development of a unit of residential land, the transfer of land, etc. to an individual or a corporation that is to carry out the development of the unit of residential land for use in residential construction (limited to that which meets the following requirements) (in the case where an heir or universal legatee has succeeded to the project for the development due to the death of the individual who was carrying out the development, and where the heir or universal legatee then carries out the development, such individual is to be the deceased individual who was to carry out the development or the heir or universal legatee; the same applies in paragraph (78)) (in the case where the corporation carrying out the development has extinguished as a result of a merger and a merging corporation that was involved in the merger has succeeded to the project for the development and carries out the development, such corporation is to be the extinguished corporation that was to carry out the development or the merging corporation; and in the case where the corporation carrying out the development has been split off and the succeeding corporation in thea company split that was involved in the company split has succeeded to the project for the development and carries out the development, such corporation is to be the split-off corporation that was to carry out the development or the succeeding corporation in thea company split; the same applies in paragraph (78)), with the transferred land, etc. being used for the unit of residential land (excluding that which falls under the category of a transfer listed in items (vii) through (ix) or a transfer of land, etc. specified by Cabinet Order):

transfer of land, etc. to an individual or a corporation that is to construct a group of houses or mid-to-high-rise fire-proof apartment houses (each limited to that which meets the following requirements) (in the case where an heir or universal legatee has succeeded to the project for the construction due to the death of the individual carrying out the development, and where the heir or universal legatee then carries out the construction, such individual is to be the deceased individual who was to carry out the construction or the heir or universal legatee; the same applies in the following item and paragraph (78)) (in the case where the corporation carrying out the construction has extinguished as a result of a merger and the merging corporation that was involved in the merger has succeeded to the project for the construction and carries out the construction, such corporation is to be the extinguished corporation that was to carry out the construction or the merging corporation; and in the case where the corporation carrying out the construction has been split off and the succeeding corporation in a company split that was involved in the company split has succeeded to the project for the construction and carries out the construction, such corporation is to be the split-off corporation that was to carry out the construction or the succeeding corporation in a company split; the same applies in that item and that paragraph), with the transferred land, etc. being used for constructing the group of houses or mid-to-high-rise fire-proof apartment houses (excluding that which falls under the category of a transfer listed in items (vii) through (ix), item (x), or the preceding two items):

The provisions of the preceding paragraph apply mutatis mutandis in the case where a corporation has made transfer of its land, etc. during the period from January 1, 1992 to December 31, 2028 and when the transfer of the land, etc. falls under the category of a transfer for a determined site for constructing a superior residential area, etc. (meaning transfer that has been certified, as specified by Order of the Ministry of Finance, as highly likely to fall under the category of a transfer of land, etc. listed in items (xiii) through (xvi) of the preceding paragraph during the period from the date of the transfer up to December 31 of the year that includes the day on which two years have elapsed after that date (in the case where the period required for developing residential land to be used for constructing houses generally exceeds two years or there are any other unavoidable reason specified by Cabinet Order, during the period from the date of the transfer up to the date specified by Cabinet Order; referred to in paragraph (78) as the "scheduled period")). In this case, the term "when it has been certified, as specified by Order of the Ministry of Finance, that the transfer of the land, etc. falls under the category of the following transfers of land, etc." in that paragraph is deemed to be replaced with "when the transfer of land, etc. falls under the category of a transfer for a determined site for constructing a superior residential area, etc. prescribed in the following paragraph."

In the case referred to in paragraph (4) (including the case where it is applied mutatis mutandis pursuant to the preceding paragraph; hereinafter the same applies in this paragraph and paragraph (10)Article), when a corporation is subject to the provisions of Article 65-4, paragraph (1) with regard to its land, etc. that has come to fall under the case listed in item (iii) of the paragraph, the transfer of the land, etc. is deemed not to fall under the category of a transfer of land, etc. falling under the provisions of paragraph (4).

An individual or a corporation carrying outIn the development set forthcase referred to in paragraph (4), item (xiii) or item (xiv) or the construction set forth if a corporation has made a transfer that falls under a transfer of land, etc. listed in item (xv) or item (xviitems (xiii) through (xv) of thethat paragraph, that has purchasedand the transferred land, etc. pertaining towas, at the time of the transfer to which the provisions of , located within a landslide prevention area under Article 3, paragraph (5) apply, when1) of the transfer in whole or in part has come to fallLandslide Prevention Act, a steep slope failure hazard area under the category Article 3, paragraph (1) of a transfer the Act on Prevention of land, etc. listed in items (xiii) through (xviDisasters Caused by Steep Slope Failure, a special sediment disaster hazard area under Article 9, paragraph (1) of the paragraph during the scheduled period, must deliver the document specified by Order Act on Sediment Disaster Countermeasures for Sediment Disaster Prone Areas, or a flood damage prevention area under Article 56, paragraph (1) of the Ministry Act on Countermeasures against Flood Damage of Finance that certifies that Specified Rivers Running Across Cities, the transfer of thethat land, etc. has come is deemed not to fall under such category, without delay to the corporation that transferred thea transfer of land, etc. to which that falls under the provisions applyof paragraph (4).

Where it has become difficult for allAn individual or part of a transfer of land, etc. to whicha corporation carrying out the provisions of paragraph (5) were applied to fall under a transfer of land, etc. listeddevelopment set forth in paragraph (4), itemsitem (xiii) through (xvi) withinor item (xiv) or the scheduled period prescribedconstruction set forth in paragraph (5), due to unavoidable circumstances arising from an emergency disaster designated as a specified emergency disaster pursuantitem (xv) or item (xvi) of the paragraph, that has purchased land, etc. pertaining to the transfer to which the provisions of Article 2, paragraph (1) of the Act on Special Measures concerning Preservation of Rights and Interests of Victims of Specified Disaster, in a case specified by Cabinet Order, if it has been certified, as specified by Order of5) apply, when the Ministry of Finance, that alltransfer in whole or part of the transfer is found certain toin part has come to fall under the category of a transfer of land, etc. listed in items (xiii) through (xvi) of thatthe paragraph during the period from the first day of the scheduled period until , must deliver the datedocument specified by Cabinet Order that falls within two years after the last day of the scheduled period, then with regard to the application ofMinistry of Finance that certifies that the provisionstransfer of paragraph (5), the preceding paragraph, and the following paragraph, the scheduled period prescribed in those provisions island, etc. has come to fall under such category, without delay to the period fromcorporation that first day until that date specified by Cabinet Ordertransferred the land, etc. to which the provisions apply.

Where the transfer of land, etc. in wholeit has become difficult for all or in part to which the provisions of paragraph (5) apply (in the case where the corporation is a merging corporation, including transfersa transfer of land, etc. into which a merged corporation involved in the merger is subject to the provisions of that paragraph) does not (5) were applied to fall under the category of a transfer of land, etc. listed in paragraph (4), items (xiii) through (xvi) as of the last day ofwithin the scheduled period prescribed in paragraph (5), the amount of corporation taxdue to be imposed on the corporation on income for the business year containing the day isunavoidable circumstances arising from an emergency disaster designated as a specified emergency disaster pursuant to be, notwithstanding the provisions of Article 66, paragraphs2, paragraph (1) through (3) and paragraph (6), Article 69, paragraph (19) (including as applied mutatis mutandis pursuant to paragraph (23) or paragraph (24) of that Article), and Article 143, paragraph (1) and paragraph (2) of the Corporation Tax Act,of the Act on Special Measures concerning Preservation of Rights and Interests of Victims of Specified Disaster, in a case specified by Cabinet Order, if it has been certified, as specified by Order of the provisionsMinistry of Article 42-4, paragraph (8), item (vi), (b) and item (vii) (including as applied mutatis mutandis pursuantFinance, that all or part of the transfer is found certain to come to Article 42-4-2, paragraph (2) or Article 42-5, paragraph (3), item (ii)), Article 42-14, paragraph (1) and fall under a transfer of land, etc. listed in items (xiii) through (xvi) of that paragraph (4), Article 62, paragraph (1), paragraph (1)during the period from the first day of this Article, paragraph (1) ofthe scheduled period until the following Article, Article 67-2, paragraph (1), and Article 68, paragraph (1), anddate specified by Cabinet Order that falls within two years after the provisions last day of other corporation tax-related laws and regulations, the scheduled period, then with regard to the sumapplication of the amountprovisions of corporation tax calculated pursuant to these provisions plusparagraph (5), the amount specified by Cabinet Order aspreceding paragraph, and the following paragraph, the amount obtained by multiplying the total ofscheduled period prescribed in those provisions is the amount of capital gainperiod from the transfer of land, etc. by the rate of five percentthat first day until that date specified by Cabinet Order.

With regard to the application of the provisions of paragraph (1) inWhere the case where a corporation has made a transfer of land, etc. (excluding a transfer of land, etc. falling underin whole or in part to which the provisions of paragraph (3) and paragraph (4)) (including5) apply (in the case where a mergingthe corporation, etc. as prescribed in Article 64-2, paragraph (4) has succeeded to the amount is a merging corporation, including transfers of the special account prescribedland, etc. in that paragraph, fromwhich a merged corporation, splitting corporation, or corporation making a capital contribution in kind involved in the qualified merger, etc. (meaning a qualified merger, etc. prescribed in is subject to the provisions of that paragraph), which made does not fall under the category of a transfer of land, etc., pursuant to that listed in paragraph, or other cases specified by Cabinet Order), when there is any amount that has been included (4), items (xiii) through (xvi) as of the last day of the scheduled period prescribed in deductible expenses, with regard to paragraph (5), the transferamount of land, etc., pursuantcorporation tax to the provisions of Article 50 ofbe imposed on the Corporation Tax Act orcorporation on income for the provisions of Articles 64 through 65-5-2 or Articles 65-7 through 66 (inbusiness year containing the case where thereday is any amount that has been excluded from deductible expenses pursuant toto be, notwithstanding the provisions of Article 65-6, the amount that remains after deducting the excluded amount; hereinafter referred to in this66, paragraphs (1) through (3) and paragraph as the "amount included in deductible expenses"(6), the amount equivalent to the amount included in deductible expenses isArticle 69, paragraph (19) (including as applied mutatis mutandis pursuant to be deducted from the amountparagraph (23) or paragraph (24) of capital gain for the business year; and when there is any amount that has been included in gross profits, with regard to the transferArticle), and Article 143, paragraph (1) and paragraph (2) of land, etc., pursuant tothe Corporation Tax Act, the provisions of Article 64-2, paragraphs (9) through (12) (including the case where these provisions are42-4, paragraph (8), item (vi), (b) and item (vii) (including as applied mutatis mutandis pursuant to Article 6542-4-2, paragraph (3))2) or Article 42-5, paragraph (3), item (ii)), Article 65-742-14, paragraph (4) (including the case where it is applied mutatis mutandis pursuant to1) and paragraph (4), Article 62, paragraph (1), paragraph (1) of this Article, paragraph (1) of the following Article 65-8, Article 67-2, paragraph (14)1), and Article 65-768, paragraph (12) (including1), and the case where it is applied mutatis mutandis pursuant to Article 65-8, paragraph (15)), or Article 65-8, paragraphs (9) through (12), provisions of other corporation tax-related laws and regulations, the sum of the amount of corporation tax calculated pursuant to these provisions plus the amount equivalent to the included specified by Cabinet Order as the amount is to be added to obtained by multiplying the total of the amount of capital gain forfrom the business yeartransfer of land, etc. by the rate of five percent.

The With regard to the application of the provisions of paragraph (5) apply only 1) in the case where the final returna corporation has made a transfer of land, etc. has attached thereto the document specified by Order of(excluding a transfer of land, etc. falling under the Ministryprovisions of Finance that certifies that paragraph (3) and paragraph (4)) (including the transfer of landcase where a merging corporation, etc. falls under as prescribed in Article 64-2, paragraph (4) has succeeded to the categoryamount of a transfer for a determined site for constructing a superior residential areathe special account prescribed in that paragraph, from a merged corporation, splitting corporation, or corporation making a capital contribution in kind involved in the qualified merger, etc. as (meaning a qualified merger, etc. prescribed in that paragraph and a document stating the amount ), which made the transfer of land, etc., pursuant to that paragraph, or other cases specified by Cabinet Order ), when there is any amount that has been included in deductible expenses, with regard to the transfer of land, etc., pursuant to the provisions of Article 50 of the Corporation Tax Act or the provisions of Articles 64 through 65-5-2 or Articles 65-7 through 66 (in the case where there is any amount that has been excluded from deductible expenses pursuant to the provisions of Article 65-6, the amount that remains after deducting the excluded amount; hereinafter referred to in this paragraph as the "amount included in deductible expenses"), the amount equivalent to the amount included in deductible expenses is to be deducted from the amount of capital gain fromfor the business year; and when there is any amount that has been included in gross profits, with regard to the transfer of land, etc., and any other matters specified by Order of pursuant to the provisions of Article 64-2, paragraphs (9) through (12) (including the Ministry case where these provisions are applied mutatis mutandis pursuant to Article 65, paragraph (3)), Article 65-7, paragraph (4) (including the case where it is applied mutatis mutandis pursuant to Article 65-8, paragraph (14)), Article 65-7, paragraph (12) (including the case where it is applied mutatis mutandis pursuant to Article 65-8, paragraph (15)), or Article 65-8, paragraphs (9) through (12), the amount equivalent to the included amount is to be added to the amount of Financecapital gain for the business year.

With regard to the application of theThe provisions of Article 67 of the Corporation Tax Actparagraph (5) apply only in the case where the provisions of paragraph (1) or paragraph (9) apply,final return, etc. has attached thereto the term "paragraphs (1), (2), and (6)document specified by Order of the preceding Article, and Article 69, paragraph (19) (Foreign Tax Credit) (including as applied mutatis mutandis pursuant to paragraph (23) ofMinistry of Finance that certifies that Article; the same applies in paragraph (3))" in paragraph (1)transfer of land, etc. falls under the category of the Article is deemed to be replaced with "Article 62-3, paragraphs (1) and (9) (Special Tax Rate for the Transfer of Land) ofa transfer for a determined site for constructing a superior residential area, etc. as prescribed in that paragraph and a document stating the Act on Special Measures Concerning Taxation", andamount specified by Cabinet Order as the term "paragraphs (1), (2), and (6) of the preceding Articleamount of capital gain from the transfer of land, etc., and Article 69, paragraph (19)" in paragraph (3)any other matters specified by Order of the Article is deemed to be replaced with "Article 62-3, paragraphs (1) and (9)Ministry of the Act on Special Measures Concerning Taxation"Finance.

The With regard to the application of the provisions of Article 62, paragraph (7) apply mutatis mutandis 67 of the Corporation Tax Act in the case where the provisions of paragraph (1) or paragraph (910) apply. In this case, , the term "paragraphs (1), (2), and (6) of the phrase "preceding Article, and the provisions of Article 69, paragraph (19) (Foreign Tax Credit) (including as applied mutatis mutandis pursuant to paragraph (1)" in 23) of that Article 62, ; the same applies in paragraph (7), item (i) 3))" in paragraph (1) of the Article is deemed to be replaced with "Article 62-3, paragraphs (1) and (10) (Special Tax Rate for the provisionsTransfer of Land) of the Act on Special Measures Concerning Taxation", and the term "paragraphs (1), (2), and (6) of the preceding Article , and Article 69, paragraph (19)" in paragraph (3) of the Article is deemed to be replaced with "Article 62-3, paragraphs (1) and (9)10) of the Act on Special Measures Concerning Taxation".

Beyond what is provided for in the preceding three paragraphs, matters concerning the application of The provisions of Article 62, paragraph (7) apply mutatis mutandis where the provisions of the Corporation Tax Act and other laws and regulations related to the corporation tax, to filing of returns or refunds of corporation tax, paragraph (1) or paragraph (10) apply. In this case, the phrase "and of the provisions of the Local Corporation Tax Act and other laws and regulations related to the local corporation tax, to filing of returns or refunds of local corporation tax, paragraph (1)" in Article 62, paragraph (7), item (i) is deemed to be replaced with "and other necessary matters concerning the application of the provisions of paragraph (1), paragraph (5) or paragraph (9) are specified by Cabinet OrderArticle 62-3, paragraphs (1) and (10)".

The Beyond what is provided for in the preceding three paragraphs, matters concerning the application of the provisions of paragraph (1) do not apply the Corporation Tax Act and other laws and regulations related to a transfer, etc. the corporation tax, to filing of land that a returns or refunds of corporation has made duringtax, and of the period from January 1, 1998 through March 31, 2029provisions of the Local Corporation Tax Act and other laws and regulations related to the local corporation tax, to filing of returns or refunds of local corporation tax, and other necessary matters concerning the application of the provisions of paragraph (1), paragraph (5) or paragraph (10) are specified by Cabinet Order.

The provisions of paragraph (1) do not apply to a transfer, etc. of land that a corporation has made during the period from January 1, 1998 through March 31, 2029.

Where a corporation has made a transfer, etc. of land held for a short term, the amount of corporation tax to be imposed on the corporation on its income for each business year is to be, notwithstanding the provisions of Article 66, paragraphs (1) through (3) and paragraph (6), Article 69, paragraph (19) (including as applied mutatis mutandis pursuant to paragraph (23) or paragraph (24) of that Article), and Article 143, paragraph (1) and paragraph (2) of the Corporation Tax Act, the provisions of Article 42-4, paragraph (8), item (vi), (b) and item (vii) (including as applied mutatis mutandis pursuant to Article 42-4-2, paragraph (2) or Article 42-5, paragraph (3), item (ii)), Article 42-14, paragraph (1) and paragraph (4), Article 62, paragraph (1), paragraph (1) and paragraph (910) of the preceding Article, Article 67-2, paragraph (1), and Article 68, paragraph (1), and the provisions of other corporation tax-related laws and regulations, the sum of the amount of corporation tax calculated pursuant to these provisions plus the amount obtained by multiplying the total of the amount of capital gain from the transfer, etc. of land held for a short term by the rate of 10 percent.

The provisions of paragraph (1011) of the preceding Article apply mutatis mutandis where a corporation has made a transfer of land, etc. that falls under a transfer, etc. of land held for a short term (excluding a transfer of land, etc. falling under the provisions of the preceding paragraph) and the provisions of paragraph (1) are applied. In this case, the phrase "or Articles 65-7 through 66" in paragraph (1011) of that Article is deemed to be replaced with ", Article 65-10, or Article 66", and the phrase "Article 64-2, paragraphs (9) through (12) (including the case where these provisions are applied mutatis mutandis pursuant to Article 65, paragraph (3)), Article 65-7, paragraph (4) (including the case where it is applied mutatis mutandis pursuant to Article 65-8, paragraph (14)), Article 65-7, paragraph (12) (including the case where it is applied mutatis mutandis pursuant to Article 65-8, paragraph (15)), or Article 65-8, paragraphs (9) through (12)" is deemed to be replaced with "Article 64-2, paragraphs (9) through (12) (including the case where these provisions are applied mutatis mutandis pursuant to Article 65, paragraph (3))".