①In the case where a special business successor heir, etc. has acquired unlisted shares or similar interests of a special certified succession company by inheritance or bequest from an individual specified by Cabinet Order as an individual who held unlisted shares or similar interests (limited to those without restrictions on voting rights; the same applies hereinafter in this paragraph) of that special certified succession company (referred to as the "special decedent" hereinafter in this Article) (limited to the first acquisition by inheritance or bequest to which the provisions of this paragraph apply during the period from January 1, 2018 to December 31, 2027, and to acquisitions by inheritance or bequest for which the due date for filing the inheritance tax return (meaning the return filed by the due date under the provisions of Article 27, paragraph (1) of the Inheritance Tax Act; the same applies hereinafter in this Article and in Article 70-7-8) (or, in the case where that due date has been extended pursuant to the provisions of Article 69-8, paragraph (1) or paragraph (2) or the provisions of Article 10 or Article 11 of the Act on General Rules for National Taxes, the due date before that extension) arrives during the period from the day of that acquisition until the last day of the special business succession period), with regard to the inheritance tax equivalent to the inheritance tax subject to deferral relating to those unlisted shares or similar interests for which that inheritance tax return states that the special business successor heir, etc. seeks the application of the provisions of this paragraph (referred to as "special eligible unlisted shares or similar interests" hereinafter in this Article), out of the amount of inheritance tax payable upon the filing of the inheritance tax return relating to that inheritance, notwithstanding the provisions of Article 33 of the Inheritance Tax Act, a grace period is granted for the payment of that tax until the day of the death of that special business successor heir, etc., only in the case where security equivalent to that inheritance tax subject to deferral has been provided by the due date for filing that inheritance tax return pursuant to the provisions of Cabinet Order.

②In this Article, the meanings of the terms listed in the following items are as prescribed respectively in those items:

③The provisions of Article 70-7-2, paragraph (3) (excluding item (ii)), paragraph (4) and paragraph (5) apply mutatis mutandis to the fixing of the deadline of the tax payment grace period under the provisions of paragraph (1). In this case, the phrase "paragraph (1) of the preceding Article" in paragraph (3), item (iii) of that Article is deemed to be replaced with "Article 70-7, paragraph (1)", the phrase "any of the persons" in item (iv) of that paragraph is deemed to be replaced with "any of the persons (excluding special business successor heirs, etc. other than that special business successor heir, etc., a special business successor donee prescribed in Article 70-7-5, paragraph (2), item (vi) who receives the application of the provisions of paragraph (1) of that Article, and a special business successor donee upon inheritance prescribed in Article 70-7-8, paragraph (2), item (i) who receives the application of the provisions of paragraph (1) of that Article)", and the phrase "paragraph (1) of the preceding Article" in the left-hand column of item (i) of the table in paragraph (4) of that Article is deemed to be replaced with "Article 70-7, paragraph (1)".

④The provisions of Article 70-7-2, paragraph (6) apply mutatis mutandis in the case where the special business successor heir, etc. who seeks to receive the application of the provisions of paragraph (1) has provided all of the special eligible unlisted shares or similar interests (or, in the case where the special certified succession company relating to those special eligible unlisted shares or similar interests has been extinguished through a merger or in any other case specified by Order of the Ministry of Finance, those specified by Order of the Ministry of Finance as equivalent to those special eligible unlisted shares or similar interests; the same applies hereinafter in this Article) as security for the inheritance tax subject to deferral.

⑤The provisions of Article 70-7-2, paragraph (7) apply mutatis mutandis in the case where, by the due date for filing the inheritance tax return relating to the inheritance referred to in paragraph (1), all or part of the unlisted shares or similar interests acquired by that inheritance or bequest have not yet been divided among the co-heirs or universal legatees.

⑥The provisions of paragraph (1) do not apply in the case where the inheritance tax return relating to the unlisted shares or similar interests that the special business successor heir, etc. seeking the application of the provisions of that paragraph acquired by inheritance or bequest from the special decedent does not state that the special business successor heir, etc. seeks the application of the provisions of that paragraph for all or part of those unlisted shares or similar interests, or where a document stating details of those unlisted shares or similar interests, details concerning the calculation of the inheritance tax subject to deferral and other matters specified by Order of the Ministry of Finance is not attached to that return.

⑦If, during the period from the day following the due date for filing the inheritance tax return relating to the inheritance referred to in paragraph (1) until the day on which the deadline of the tax payment grace period under the provisions of that paragraph, Article 70-7-2, paragraphs (3) through (5) as applied mutatis mutandis pursuant to paragraph (3) of this Article, paragraph (12) of that Article as applied mutatis mutandis pursuant to paragraph (9), paragraph (13) of that Article as applied mutatis mutandis pursuant to paragraph (10), or paragraph (15) of that Article as applied mutatis mutandis pursuant to paragraph (11) is fixed for all of the inheritance tax equivalent to the amount of inheritance tax under a grace period, there is a base date for management reports, the special business successor heir, etc. to whom the provisions of paragraph (1) apply must, by the notification deadline (meaning the day on which five months have elapsed from the day following the type 1 base date and the day on which three months have elapsed from the day following the type 2 base date; the same applies in paragraph (9) and paragraph (22)), submit to the district director with jurisdiction over the place for tax payment, pursuant to the provisions of Cabinet Order, a written notification stating that the special business successor heir, etc. wishes to continue to receive the application of the provisions of paragraph (1) and matters concerning the management of the special certified succession company relating to the special eligible unlisted shares or similar interests referred to in that paragraph.

⑧The provisions of Article 70-7-2, paragraph (11) apply mutatis mutandis to the prescription of the national government's right to collect the inheritance tax equivalent to the amount of inheritance tax under a grace period and the interest tax and delinquent tax relating to that inheritance tax.

⑨The provisions of Article 70-7-2, paragraph (12) apply mutatis mutandis in the case where the written notification referred to in paragraph (7) is not submitted to the district director with jurisdiction over the place for tax payment by the notification deadline.

⑩The provisions of Article 70-7-2, paragraph (13) apply mutatis mutandis to the acceleration of the deadline of the tax payment grace period under the provisions of paragraph (1).

⑪The provisions of Article 70-7-2, paragraphs (14) and (15) apply mutatis mutandis to the application of the provisions of the Act on General Rules for National Taxes, the National Tax Collection Act and the Inheritance Tax Act in the case where a special business successor heir, etc. seeks the application of the provisions of paragraph (1) or a tax payment grace period has been granted under the provisions of that paragraph. In this case, the phrase "the value calculated by multiplying the value of those covered unlisted shares or similar interests by 20 percent" in paragraph (14), item (xi) of that Article is deemed to be replaced with "zero", the phrase "the sum of the value calculated by multiplying the value calculated on the assumption that the certified succession company, etc. did not hold those shares, etc. by 20 percent and the value of those shares, etc." in that item is deemed to be replaced with "the value of those shares, etc.", the phrase "successor heir, etc." in paragraph (15) of that Article is deemed to be replaced with "special business successor heir, etc.", the phrase "decedent" is deemed to be replaced with "special decedent", the phrase "Article 70-7-2, paragraph (2), item (i)" is deemed to be replaced with "Article 70-7-6, paragraph (2), item (i)", the phrase "(Tax Payment Grace Period and Exemption for Inheritance Tax on Unlisted Shares or Similar Interests)" is deemed to be replaced with "(Special Provisions on Tax Payment Grace Period and Exemption for Inheritance Tax on Unlisted Shares or Similar Interests)", the phrase "certified succession company" is deemed to be replaced with "special certified succession company", the words "', the phrase 'its shareholders" are deemed to be replaced with " or the special business successor heir, etc. prescribed in item (vii) of that paragraph', the phrase 'its shareholders", the phrase "referred to in paragraph (1) of that Article" is deemed to be replaced with "that", the phrase "that paragraph" is deemed to be replaced with "paragraph (1) of that Article", the phrase "determine the inheritance tax under the tax payment grace period to be exempted" is deemed to be replaced with "determine the inheritance tax under the tax payment grace period to be exempted, or rescind the exemption from that inheritance tax", the phrase "Article 70-7-2, paragraph (1)" is deemed to be replaced with "Article 70-7-6, paragraph (1)", and the phrase "Article 70-7-2" is deemed to be replaced with "Article 70-7-6".

⑫The provisions of Article 70-7-2, paragraphs (16) through (21) apply mutatis mutandis to the exemption from inheritance tax for which a tax payment grace period has been granted under the provisions of paragraph (1). In this case, the phrase "paragraph (1) of the preceding Article" in paragraph (16), item (ii) of that Article is deemed to be replaced with "Article 70-7, paragraph (1)", and the phrase "paragraph (28)" in paragraphs (19) and (20) of that Article is deemed to be replaced with "Article 70-7-6, paragraph (23)".

⑬In the case where the special business successor heir, etc. to whom the provisions of paragraph (1) apply or the special certified succession company relating to the special eligible unlisted shares or similar interests referred to in that paragraph has come to fall under any of the cases listed in the following items (limited to the case where a reason specified by Cabinet Order as a reason making it difficult for that special certified succession company to continue its business has arisen, and excluding the case where, before the day on which it came to fall under that case, the provisions of Article 70-7-2, paragraph (12) as applied mutatis mutandis pursuant to paragraph (9) have been applied, and the case where, before that day, the deadline of the tax payment grace period has been accelerated under the provisions of paragraph (13) of that Article as applied mutatis mutandis pursuant to paragraph (10) or paragraph (15) of that Article as applied mutatis mutandis pursuant to paragraph (11)), if that special business successor heir, etc. seeks an exemption from the inheritance tax specified in the relevant item, the special business successor heir, etc. must, by the day on which two months have elapsed from the day on which it came to fall under that case (or, in the case where that special business successor heir, etc. has died during the period from the day on which it came to fall under that case until the day on which those two months elapse, the day on which six months have elapsed from the day following the day on which the heir of that special business successor heir, etc. (including a universal legatee; the same applies in paragraph (15), item (i) and paragraph (23)) came to know of the commencement of the succession due to the death of that special business successor heir, etc.; referred to as the "application deadline" in the following paragraph and paragraph (18)), submit to the district director with jurisdiction over the place for tax payment a written application stating that the special business successor heir, etc. wishes to receive that exemption, the amount equivalent to the inheritance tax for which the special business successor heir, etc. seeks the exemption, details of its calculation and other matters specified by Order of the Ministry of Finance (limited to a written application to which the documents necessary for the procedure for that exemption and other documents specified by Order of the Ministry of Finance are attached; the same applies in the following paragraph). In this case, with regard to the application of the provisions of Article 70-7-2, paragraph (5) as applied mutatis mutandis pursuant to paragraph (3), the phrase "items (viii) through (xii)" in item (i) of the table in that paragraph is deemed to be replaced with "item (viii)", the phrase "amount of inheritance tax under a grace period" in that item is deemed to be replaced with "the sum of the amounts listed in Article 70-7-6, paragraph (13), item (i), (a) and (b) or the sum of the amounts listed in item (iv), (a) and (b) of that paragraph", the phrase "the amount calculated pursuant to the provisions of Cabinet Order as the amount of the part, out of the amount of inheritance tax under a grace period, corresponding to the number or amount of the eligible unlisted shares or similar interests for which that transfer, etc. was made" in the middle column of item (ii) of that table is deemed to be replaced with "the sum of the amounts listed in Article 70-7-6, paragraph (13), item (i), (a) and (b)", the phrase "the amount of inheritance tax under a grace period (or, in the case where shares, etc. of the company surviving the absorption-type merger, etc. were delivered upon that merger, excluding the amount calculated pursuant to the provisions of Cabinet Order as the amount of the part corresponding to the value of those shares, etc.)" in the middle column of item (iii) of that table is deemed to be replaced with "the sum of the amount listed in Article 70-7-6, paragraph (13), item (ii), (a) (limited to the amount calculated pursuant to the provisions of Cabinet Order as the amount of the part corresponding to the value of property other than shares, etc. of the company surviving the absorption-type merger, etc. delivered upon that merger) and the amount listed in (b) of that item", and the phrase "the amount of inheritance tax under a grace period (or, in the case where shares, etc. of that other company were delivered upon that share exchange, etc., excluding the amount calculated pursuant to the provisions of Cabinet Order as the amount of the part corresponding to the value of those shares, etc.)" in the middle column of item (iv) of that table is deemed to be replaced with "the sum of the amount listed in Article 70-7-6, paragraph (13), item (iii), (a) (limited to the amount calculated pursuant to the provisions of Cabinet Order as the amount of the part corresponding to the value of property other than shares, etc. of that other company delivered upon that share exchange, etc.) and the amount listed in (b) of that item".

⑭In the case falling under any of the cases listed in the items of the preceding paragraph (excluding item (iv)) and also falling under any of the following cases, if a special business successor heir, etc. seeks to receive the application of the provisions of the following paragraph, notwithstanding the provisions of the preceding paragraph, only in the case where the special business successor heir, etc. has provided, by the application deadline, security equivalent to the sum of the amounts listed in (a) and (b) of the relevant item of that paragraph and has also submitted, by that application deadline, to the district director with jurisdiction over the place for tax payment a written application stating that the special business successor heir, etc. seeks to receive the application of the provisions of this paragraph, details of the calculation of that amount and other matters specified by Order of the Ministry of Finance, the remaining amount after deducting that sum from the deferred tax subject to recalculation (meaning, in the case falling under the case listed in item (i) of the preceding paragraph, the amount calculated pursuant to the provisions of Cabinet Order as the amount of the part, out of the amount of inheritance tax under a grace period, corresponding to the number or amount of the special eligible unlisted shares or similar interests for which the transfer, etc. referred to in that item was made, and, in the case falling under the case listed in item (ii) or item (iii) of that paragraph, the amount equivalent to the amount of inheritance tax under a grace period; the same applies hereinafter in this paragraph) may be exempted, and that sum (or, in the case falling under the case listed in item (i) of the preceding paragraph, the amount obtained by adding to that sum the remaining amount after deducting that deferred tax subject to recalculation from the amount of inheritance tax under a grace period) may be made the amount of inheritance tax under a grace period:

⑮With regard to the deadline of the tax payment grace period for, and the exemption from, the inheritance tax equivalent to the amount that has been made the amount of inheritance tax under a grace period pursuant to the provisions of the preceding paragraph, as of the day on which two years have elapsed from the day on which it came to fall under any of the cases listed in the items of paragraph (13) (excluding item (iv)) (or, in the case where the special business successor heir, etc. to whom the provisions of paragraph (1) apply has died before the day on which those two years elapse, the day preceding the day of that death), the provisions specified in the following items apply according to the category of cases listed in those items:

⑯The term "special recalculated inheritance tax amount" referred to in item (i) of the preceding paragraph means the amount obtained by adding the amount listed in paragraph (13), item (i), (b), item (ii), (b) or item (iii), (b) to the amount calculated under the provisions of paragraph (2), item (viii) by deeming the amount equivalent to the amount of consideration for the transfer, etc., the amount of the consideration for the merger or the amount of the consideration for the share exchange, etc. relating to the application of the provisions of that item to be the value, at the time of the commencement of the succession, of the special eligible unlisted shares or similar interests acquired by the inheritance to which the provisions of paragraph (1) apply.

⑰A special business successor heir, etc. who seeks to receive the exemption from the inheritance tax referred to in paragraph (15), item (i) pursuant to the provisions of that item must, by the re-application deadline, submit to the district director with jurisdiction over the place for tax payment a written application stating that the special business successor heir, etc. wishes to receive the exemption referred to in that item, the amount equivalent to the inheritance tax for which the special business successor heir, etc. seeks the exemption, details of its calculation and other matters specified by Order of the Ministry of Finance (limited to a written application to which the documents necessary for the procedure for that exemption and other documents specified by Order of the Ministry of Finance are attached).

⑱In the case where a written application under the provisions of paragraph (13), paragraph (14) or the preceding paragraph has been submitted, the district director conducts an investigation into the matters stated in that written application, and either grants an exemption from the inheritance tax specified in the relevant item of paragraph (13) according to the category of the cases listed in those items relating to that written application or from the inheritance tax prescribed in paragraph (14) or paragraph (15), item (i), or dismisses the application relating to that written application. In this case, the district director is to notify the special business successor heir, etc. who submitted that written application of the amount of the inheritance tax so exempted, or of the dismissal and the reason therefor, by means of a document stating them, within six months counting from the day following the application deadline or the re-application deadline relating to that written application.

⑲The provisions of Article 70-7-2, paragraphs (19) and (20) apply mutatis mutandis in the case where the written application referred to in paragraph (13), paragraph (14) or paragraph (17) has been submitted. In this case, the phrase "item (vi) of the table in paragraph (28)" in paragraph (19) of that Article is deemed to be replaced with "item (ix) of the table in Article 70-7-6, paragraph (23)", the phrase "item (viii)" is deemed to be replaced with "item (xii)", the phrase "item (vi) of that table" is deemed to be replaced with "item (ix) of that table", and the phrase "the left-hand column of item (vi) of the table in paragraph (28) or item (viii) of that table" in paragraph (20) of that Article is deemed to be replaced with "items (ix) through (xi) of the table in Article 70-7-6, paragraph (23)".

⑳Beyond what is provided for in the preceding three paragraphs, necessary matters concerning the application of paragraphs (13) through (15) are specified by Cabinet Order.

（二十一）The provisions of Article 70-7-2, paragraphs (22) through (26) apply mutatis mutandis to the calculation of and exemption from the inheritance tax subject to deferral in the case where the assessment prescribed in paragraph (22) of that Article has been made with regard to a special certified succession company.

（二十二）The provisions of Article 70-7-2, paragraph (27) apply mutatis mutandis in the case where the written notification referred to in paragraph (7), or in paragraph (16) of that Article as applied mutatis mutandis pursuant to paragraph (12), has not been submitted by the notification deadline or the deadline for notification of exemption referred to in that paragraph.

（二十四）With regard to the application of the provisions of the preceding paragraph in the case where a special business successor heir, etc. to whom the provisions of paragraph (1) have been applied falls under the case listed in the left-hand column of items (iii) through (xiv) of the table in that paragraph (or, in the case falling under the case listed in the left-hand column of item (iv) or item (v) of that table, limited to the case where the special business successor heir, etc. has come to fall under the case prescribed in those provisions on or after the day following the last day of the special business succession period), the phrase "3.6 percent per annum" in that paragraph is deemed to be replaced with "3.6 percent per annum (0 percent per annum for the special business succession period)".

（二十五）The provisions of Article 70-7-2, paragraph (30) apply mutatis mutandis in the case where the special certified succession company relating to the special eligible unlisted shares or similar interests referred to in paragraph (1) has acquired property through a capital contribution in kind or a gift from the special business successor heir, etc. who seeks to receive the application of the provisions of that paragraph or from a person who has a special relationship specified by Cabinet Order with that special business successor heir, etc.

（二十六）The provisions of Article 70-7-2, paragraphs (31) through (39) apply mutatis mutandis in the case where the special certified succession company relating to the special eligible unlisted shares or similar interests referred to in paragraph (1) has suffered damage from a disaster, etc. prescribed in paragraph (32) of that Article.

（二十七）The provisions of Article 70-7-2, paragraph (40) apply mutatis mutandis in the case where the Minister of Economy, Trade and Industry or the Director-General of a Bureau of Economy, Trade and Industry has come to know, with regard to the special business successor heir, etc. who receives the application of the provisions of paragraph (1), the special eligible unlisted shares or similar interests referred to in that paragraph or the special certified succession company relating to those special eligible unlisted shares or similar interests, that a fact relating to the fixing of the deadline of the tax payment grace period under the provisions of paragraphs (3) through (5) of that Article as applied mutatis mutandis pursuant to paragraph (3) has occurred, through having made a certification or confirmation, accepted a report or performed any other act concerning that fact pursuant to the provisions of laws and regulations.

（二十八）The provisions of Article 70-7-2, paragraph (41) apply mutatis mutandis in the case where the district director finds it necessary in order for the affairs of the Minister of Economy, Trade and Industry or the Director-General of a Bureau of Economy, Trade and Industry (limited to affairs concerning the special business successor heir, etc. who receives the application of the provisions of paragraph (1) that relate to the application of the provisions of paragraph (40) of that Article as applied mutatis mutandis pursuant to the preceding paragraph) to be processed properly and reliably.

（二十九）Beyond what is provided for in paragraph (3) through the preceding paragraph, necessary matters concerning the application of paragraph (1) are specified by Cabinet Order.