Article 65-9Special Provisions on Taxation in the Case of Exchange of Specified Assets
第六十五条の九（特定の資産を交換した場合の課税の特例）
If a corporation has, between April 1, 1970 and March 31, 2029 (or, for those of the assets listed in the left-hand column of item (iv) of the table in Article 65-7, paragraph (1) that are used for the construction business or any other business specified by Cabinet Order prescribed in that column, March 31, 2028), exchanged any of the assets held by it that are listed in the left-hand column of the items of that table (excluding land, etc. to whose transfer by exchange the provisions of Article 63, paragraph (1) apply; hereinafter referred to in this Article as an "asset transferred by exchange") for an asset listed in the right-hand column of the relevant item (hereinafter referred to in this Article as an "asset acquired by exchange") (excluding the exchange, replotting disposition and rights conversion prescribed in Article 65, paragraph (1), items (ii) through (vii) and any other exchange specified by Cabinet Order; hereinafter the same applies in this Article) (including the case where it has acquired or paid an exchange balancing payment (meaning money to make up for the difference between the value of the asset acquired through the exchange and the value of the asset transferred through the exchange; hereinafter the same applies in this Article) in connection with the exchange), or has exchanged an asset transferred by exchange for an asset other than an asset acquired by exchange and has acquired an exchange balancing payment (hereinafter referred to in this Article as the "case of an exchange for other assets"), then, with regard to the application of the provisions of the preceding two Articles, the following provisions apply:
法人が、昭和四十五年四月一日から令和十一年三月三十一日（第六十五条の七第一項の表の第四号の上欄に掲げる資産のうち同欄に規定する建設業その他の政令で定める事業の用に供されるものにあつては、令和十年三月三十一日）までの間に、その有する資産で同表の各号の上欄に掲げるもの（その交換による譲渡につき第六十三条第一項の規定の適用がある土地等を除く。以下この条において「交換譲渡資産」という。）と当該各号の下欄に掲げる資産（以下この条において「交換取得資産」という。）との交換（第六十五条第一項第二号から第七号までに規定する交換、換地処分及び権利変換その他政令で定める交換を除く。以下この条において同じ。）をした場合（当該交換に伴い交換差金（交換により取得した資産の価額と交換により譲渡した資産の価額との差額を補うための金銭をいう。以下この条において同じ。）を取得し、又は支払つた場合を含む。）又は交換譲渡資産と交換取得資産以外の資産との交換をし、かつ、交換差金を取得した場合（以下この条において「他資産との交換の場合」という。）における前二条の規定の適用については、次に定めるところによる。
the asset transferred by exchange (in the case of an exchange for other assets, limited to the portion specified by Cabinet Order as corresponding to the exchange balancing payment) is deemed to have been transferred as referred to in Article 65-7, paragraph (1) by the corporation on the day of the exchange for an amount equivalent to the value of the asset as of that day;
当該交換譲渡資産（他資産との交換の場合にあつては、交換差金に対応するものとして政令で定める部分に限る。）は、当該法人が、その交換の日において、同日における当該資産の価額に相当する金額をもつて第六十五条の七第一項の譲渡をしたものとみなす。
the asset acquired by exchange is deemed to have been acquired as referred to in Article 65-7, paragraph (1) by the corporation on the day of the exchange for an amount equivalent to the value of the asset as of that day, and the corporation is deemed to have made the notification referred to in that paragraph and paragraph (9) of that Article.
当該交換取得資産は、当該法人が、その交換の日において、同日における当該資産の価額に相当する金額をもつて第六十五条の七第一項の取得をし、同項及び同条第九項の届出をしたものとみなす。
第六十五条の十（特定の交換分合により土地等を取得した場合の課税の特例）
If land or a right existing on land held by a corporation (excluding inventory assets; hereinafter referred to in this paragraph as "land, etc.") has come to fall under any of the cases listed in the following items, and the corporation has, with regard to the land, etc. that it acquired through the exchange and consolidation prescribed in the relevant item (hereinafter referred to in this Article as an "asset acquired by exchange"), reduced the book value of the asset acquired by exchange through accounting as an expense or loss within the limit of the amount remaining after deducting, from the value of the asset acquired by exchange, the book value immediately before the transfer of the land, etc. that it transferred (the transfer including, in the case that falls under the case specified by Cabinet Order as a case where the value of land, etc. is significantly reduced by having another person use the land, etc., the act of having it so used; hereinafter the same applies in this paragraph and the following paragraph) through that exchange and consolidation (referred to in the following paragraph as an "asset transferred by exchange") (referred to in paragraph (4) as the "reduction entry limit"), the amount equivalent to the amount so reduced is included in deductible expenses in calculating the amount of income for that business year:
法人の有する土地又は土地の上に存する権利（棚卸資産を除く。以下この項において「土地等」という。）が次の各号に掲げる場合に該当することとなつた場合において、当該法人が当該各号に規定する交換分合により取得した土地等（以下この条において「交換取得資産」という。）につき、当該交換取得資産の価額から当該交換分合により譲渡（土地等を使用させることにより当該土地等の価値が著しく減少する場合として政令で定める場合に該当する場合におけるその使用させる行為を含む。以下この項及び次項において同じ。）をした土地等（次項において「交換譲渡資産」という。）の譲渡直前の帳簿価額を控除した残額（第四項において「圧縮限度額」という。）の範囲内で当該交換取得資産の帳簿価額を損金経理により減額したときは、その減額した金額に相当する金額は、当該事業年度の所得の金額の計算上、損金の額に算入する。
where the corporation has transferred land, etc. through an exchange and consolidation under the provisions of Article 13-2, paragraph (2) of the Act on Establishment of Agricultural Promotion Regions (excluding a transfer to which the provisions of Articles 65-3 through 65-5-2 or the preceding three Articles apply), and has acquired land, etc. through that exchange and consolidation (including the case where it has acquired, together with that land, etc., settlement money under the provisions of Article 102, paragraph (4) of the Land Improvement Act as applied mutatis mutandis pursuant to Article 13-5 of the Act on Establishment of Agricultural Promotion Regions);
農業振興地域の整備に関する法律第十三条の二第二項の規定による交換分合により土地等の譲渡（第六十五条の三から第六十五条の五の二まで又は前三条の規定の適用を受けるものを除く。）をし、かつ、当該交換分合により土地等の取得をした場合（当該土地等とともに同法第十三条の五において準用する土地改良法第百二条第四項の規定による清算金の取得をした場合を含む。）
where the corporation has transferred land, etc. (limited to land, etc. held by a corporation that is a member of an agricultural and residential land cooperative or any other corporation specified by Cabinet Order) through an exchange and consolidation under the provisions of Article 7, paragraph (2), item (iii) of the Farming and Residence Association Act (limited to one carried out within an area specified by Cabinet Order in accordance with the provisions of Chapter II, Section 3 of that Act) (excluding a transfer to which the provisions of Article 64, Article 64-2, Articles 65-2 through 65-5-2 or the preceding three Articles apply), and has acquired land, etc. through that exchange and consolidation (including the case where it has acquired, together with that land, etc., settlement money under the provisions of Article 102, paragraph (4) of the Land Improvement Act as applied mutatis mutandis pursuant to Article 11 of the Farming and Residence Association Act).
農住組合法第七条第二項第三号の規定による交換分合（政令で定める区域内において同法第二章第三節に定めるところにより行われたものに限る。）により土地等（農住組合の組合員である法人その他政令で定める法人の有する土地等に限る。）の譲渡（第六十四条、第六十四条の二、第六十五条の二から第六十五条の五の二まで又は前三条の規定の適用を受けるものを除く。）をし、かつ、当該交換分合により土地等の取得をした場合（当該土地等とともに同法第十一条において準用する土地改良法第百二条第四項の規定による清算金の取得をした場合を含む。）
The book value immediately before the transfer prescribed in the preceding paragraph is, in the cases listed in the following items, to be the amount specified in the relevant item:
前項に規定する譲渡直前の帳簿価額は、次の各号に掲げる場合に該当する場合には、当該各号に定める金額とする。
where the corporation has acquired the settlement money prescribed in the items of the preceding paragraph together with the asset acquired by exchange: the amount remaining after deducting, from the book value, the amount calculated pursuant to the provisions of Cabinet Order as the portion of the book value corresponding to the amount of that settlement money;
where the corporation has paid the settlement money prescribed in the items of the preceding paragraph together with the transfer of the asset transferred by exchange: the amount obtained by adding the amount of that settlement money to the book value;
where there is an amount calculated pursuant to the provisions of Cabinet Order as expenses required for the transfer of the asset transferred by exchange that pertain to the asset acquired by exchange: the amount obtained by adding that calculated amount to the book value.
The provisions of Article 65-7, paragraphs (5) and (6) apply mutatis mutandis where the provisions of paragraph (1) are applied, and the provisions of paragraph (8) of that Article apply mutatis mutandis to an asset acquired by exchange to which the provisions of paragraph (1) have been applied.
If a corporation carries out, in the business year that includes the day on which the exchange and consolidation prescribed in paragraph (1) was carried out, a qualified company split, a qualified capital contribution in kind or a qualified in-kind distribution (limited to one carried out on or after that day; hereinafter referred to in this paragraph and paragraph (6) as a "qualified company split, etc."), and transfers an asset acquired by exchange that it acquired through that exchange and consolidation during the period from the beginning of that business year until immediately before the qualified company split, etc. to a succeeding corporation in a company split, a corporation receiving a capital contribution in kind or a corporation receiving a distribution in kind through the qualified company split, etc., then, only if, with regard to that asset acquired by exchange, the corporation has reduced its book value within the limit of the amount equivalent to the reduction entry limit pertaining to that asset acquired by exchange, the amount equivalent to the amount so reduced is included in deductible expenses in calculating the amount of income for that business year.
The provisions of Article 65-7, paragraph (8) apply mutatis mutandis to an asset acquired by exchange to which the provisions of the preceding paragraph have been applied.
第六十五条の七第八項の規定は、前項の規定の適用を受けた交換取得資産について準用する。
The provisions of paragraph (4) apply only if the corporation seeking the application of the provisions of that paragraph has submitted to the district director with jurisdiction over the place for tax payment, within two months after the day of the qualified company split, etc., a document stating the reduced amount prescribed in that paragraph and other matters specified by Order of the Ministry of Finance.
The provisions of Article 65-7, paragraph (13) apply mutatis mutandis to an asset acquired by exchange to which the provisions of paragraph (1) or (4) have been applied.
第六十五条の七第十三項の規定は、第一項又は第四項の規定の適用を受けた交換取得資産について準用する。
Beyond what is specified in the preceding three paragraphs, necessary matters concerning the application of the provisions of paragraphs (1) and (4) are specified by Cabinet Order.
第六十六条（特定普通財産とその隣接する土地等の交換の場合の課税の特例）
If a corporation has, with regard to land held by it that is adjacent to ordinary property under Article 9, paragraph (2) of the Act on Special Measures concerning National Property that has been certified, pursuant to the provisions of Order of the Ministry of Finance, as land, etc. prescribed in that paragraph (hereinafter referred to in this paragraph as "specified ordinary property") (including a right existing on the specified ordinary property, and excluding inventory assets; hereinafter referred to in this paragraph as "owned adjacent land, etc."), exchanged the owned adjacent land, etc. for the specified ordinary property pursuant to the provisions of paragraph (2) of that Article (excluding an exchange specified by Cabinet Order; hereinafter the same applies in this paragraph and the following paragraph) (including the case where it has acquired or paid an exchange balancing payment prescribed in Article 65-9 (referred to in the following paragraph as an "exchange balancing payment")), then, only if, with regard to the specified ordinary property acquired through the exchange (hereinafter referred to in this Article as an "asset acquired by exchange"), the corporation has reduced the book value of the asset acquired by exchange through accounting as an expense or loss within the limit of the amount remaining after deducting, from the acquisition price of the asset acquired by exchange, the book value immediately before the transfer of the owned adjacent land, etc. transferred through the exchange (referred to in the following paragraph as an "asset transferred by exchange") (hereinafter referred to in this paragraph and paragraph (4) as the "reduction entry limit"), or has, instead of reducing its book value, accounted for an amount not exceeding the reduction entry limit by the method of setting it aside as a reserve in the finalized settlement of accounts for that business year (including the method of setting it aside as a reserve through the appropriation of surplus by the day on which the settlement of accounts for that business year is finalized), the amount equivalent to the amount so reduced or accounted for is included in deductible expenses in calculating the amount of income for that business year.
法人が、その有する国有財産特別措置法第九条第二項の普通財産のうち同項に規定する土地等として財務省令で定めるところにより証明がされたもの（以下この項において「特定普通財産」という。）に隣接する土地（当該特定普通財産の上に存する権利を含むものとし、棚卸資産を除く。以下この項において「所有隣接土地等」という。）につき、同条第二項の規定により当該所有隣接土地等と当該特定普通財産との交換（政令で定める交換を除く。以下この項及び次項において同じ。）をしたとき（第六十五条の九に規定する交換差金（次項において「交換差金」という。）を取得し、又は支払つた場合を含む。）は、当該交換により取得した特定普通財産（以下この条において「交換取得資産」という。）につき、当該交換取得資産の取得価額から当該交換により譲渡をした所有隣接土地等（次項において「交換譲渡資産」という。）の譲渡直前の帳簿価額を控除した残額（以下この項及び第四項において「圧縮限度額」という。）の範囲内で当該交換取得資産の帳簿価額を損金経理により減額し、又はその帳簿価額を減額することに代えてその圧縮限度額以下の金額を当該事業年度の確定した決算において積立金として積み立てる方法（当該事業年度の決算の確定の日までに剰余金の処分により積立金として積み立てる方法を含む。）により経理したときに限り、その減額し、又は経理した金額に相当する金額は、当該事業年度の所得の金額の計算上、損金の額に算入する。
The book value immediately before the transfer prescribed in the preceding paragraph is, in the cases listed in the following items, to be the amount specified in the relevant item:
前項に規定する譲渡直前の帳簿価額は、次の各号に掲げる場合に該当する場合には、当該各号に定める金額とする。
where the corporation has acquired an exchange balancing payment together with the asset acquired by exchange: the amount remaining after deducting, from the book value, the amount calculated pursuant to the provisions of Cabinet Order as the portion of the book value corresponding to the amount of that exchange balancing payment;
where the corporation has paid an exchange balancing payment together with the exchange: the amount obtained by adding the amount of that exchange balancing payment to the book value;
当該交換とともに交換差金を支出した場合 帳簿価額に当該交換差金の額を加算した金額
where there is an amount calculated pursuant to the provisions of Cabinet Order as expenses required for the exchange of the asset transferred by exchange that pertain to the asset acquired by exchange: the amount obtained by adding that calculated amount to the book value.
The provisions of Article 65-7, paragraphs (5) and (6) apply mutatis mutandis where the provisions of paragraph (1) are applied, and the provisions of paragraph (8) of that Article apply mutatis mutandis to an asset acquired by exchange to which the provisions of paragraph (1) have been applied.
If a corporation carries out, in the business year that includes the day on which it made the exchange prescribed in paragraph (1), a qualified company split, a qualified capital contribution in kind or a qualified in-kind distribution (limited to one carried out on or after that day; hereinafter referred to in this paragraph and paragraph (6) as a "qualified company split, etc."), and transfers an asset acquired by exchange pertaining to that exchange that it acquired during the period from the beginning of that business year until immediately before the qualified company split, etc. to a succeeding corporation in a company split, a corporation receiving a capital contribution in kind or a corporation receiving a distribution in kind through the qualified company split, etc., then, only if, with regard to that asset acquired by exchange, the corporation has reduced its book value within the limit of the amount equivalent to the reduction entry limit pertaining to that asset acquired by exchange, the amount equivalent to the amount so reduced is included in deductible expenses in calculating the amount of income for that business year.
The provisions of Article 65-7, paragraph (8) apply mutatis mutandis to an asset acquired by exchange to which the provisions of the preceding paragraph have been applied.
第六十五条の七第八項の規定は、前項の規定の適用を受けた交換取得資産について準用する。
The provisions of paragraph (4) apply only if the corporation seeking the application of the provisions of that paragraph has submitted to the district director with jurisdiction over the place for tax payment, within two months after the day of the qualified company split, etc., a document stating the reduced amount prescribed in that paragraph and other matters specified by Order of the Ministry of Finance.
The provisions of Article 65-7, paragraph (13) apply mutatis mutandis to an asset acquired by exchange to which the provisions of paragraph (1) or (4) have been applied.
第六十五条の七第十三項の規定は、第一項又は第四項の規定の適用を受けた交換取得資産について準用する。
Beyond what is specified in paragraphs (2) and (3) and the preceding three paragraphs, necessary matters concerning the application of the provisions of paragraph (1) or (4) are specified by Cabinet Order.