This Act comes into effect on April 1, 2022; provided, however, that the provisions set forth in the following items come into effect on the dates specified in those items:

Unless otherwise provided for, the provisions of Chapter II of the Act on Special Measures Concerning Taxation as amended by the provisions of Article 11 (hereinafter referred to as the "New Act on Special Measures Concerning Taxation") apply to income tax for 2022 and subsequent years, and the provisions then in force continue to govern income tax for 2021 and prior years.

①The provisions of Article 8-4, paragraph (1) of the New Act on Special Measures Concerning Taxation apply to dividends, etc. listed in item (i) of that paragraph that a resident or a nonresident having a permanent establishment referred to in that paragraph is to receive on or after October 1, 2023, and the provisions then in force continue to govern dividends, etc. listed in item (i) of that paragraph that a resident or a nonresident having a permanent establishment referred to in Article 8-4, paragraph (1) of the Act on Special Measures Concerning Taxation prior to the amendment by the provisions of Article 11 (hereinafter referred to as the "Former Act on Special Measures Concerning Taxation") is to receive before that date.

②The provisions of Article 8-4, paragraphs (9) through (14) of the New Act on Special Measures Concerning Taxation apply to dividends, etc. referred to in paragraph (9) of that Article that a domestic corporation referred to in that paragraph is to pay on or after October 1, 2023.

The provisions of Article 10-4-2, paragraphs (1) and (3) of the New Act on Special Measures Concerning Taxation apply to specified buildings, etc. prescribed in paragraph (1) of that Article that relate to the certification prescribed in those provisions and that an individual who received that certification on or after March 31, 2020 acquires or constructs on or after the Effective Date, and the provisions then in force continue to govern specified buildings, etc. prescribed in paragraph (1) of that Article that relate to the certification prescribed in Article 10-4-2, paragraph (1) or (3) of the Former Act on Special Measures Concerning Taxation and that an individual who received that certification on or after March 31, 2020 acquired or constructed before the Effective Date, and specified buildings, etc. prescribed in paragraph (1) of that Article that relate to the certification prescribed in that paragraph or paragraph (3) of that Article and that an individual who received that certification before March 31, 2020 acquired or constructed.

The provisions of Article 10-5 of the New Act on Special Measures Concerning Taxation apply to income tax for 2023 and subsequent years, and the provisions then in force continue to govern income tax for 2022 and prior years.

The provisions of Article 10-5-4 of the New Act on Special Measures Concerning Taxation apply to income tax for 2023 and subsequent years, and the provisions then in force continue to govern income tax for 2022 and prior years.

The provisions of Article 10-5-5, paragraph (3) of the New Act on Special Measures Concerning Taxation apply to certified specified advanced information and communications technology utilization equipment prescribed in paragraph (1) of that Article that an individual uses for business on or after the Effective Date, and the provisions then in force continue to govern certified specified advanced information and communications technology utilization equipment prescribed in Article 10-5-5, paragraph (1) of the Former Act on Special Measures Concerning Taxation that an individual used for business before the Effective Date.

①The provisions of Article 12, paragraph (1) of the New Act on Special Measures Concerning Taxation apply to industrial machinery, etc. prescribed in that paragraph that an individual acquires, or manufactures or constructs, on or after the Effective Date, and the provisions then in force continue to govern industrial machinery, etc. prescribed in Article 12, paragraph (1) of the Former Act on Special Measures Concerning Taxation that an individual acquired, or manufactured or constructed, before the Effective Date.

②Each area listed in the following items is deemed, during the period specified in the respective item, to be an area listed in the second column of item (i) or item (ii), respectively, of the table in Article 12, paragraph (1) of the New Act on Special Measures Concerning Taxation (referred to as the "new table" in the following paragraph), and the provisions of that Article (limited to the parts concerning those items) apply. In this case, the phrase "an individual who falls under the category of business operators listed in the first column of the respective items of the following table" in paragraph (1) of that Article is deemed to be replaced with "an individual"; the phrase "the second column of the respective items" is deemed to be replaced with "the second column of the respective items of the following table"; the phrase "depreciable assets that are specified by Cabinet Order as contributing to the promotion of that area" is deemed to be replaced with "depreciable assets"; and the phrase "excluding them)" is deemed to be replaced with "excluding them, and, in the case where they are used for the business listed in the third column of item (i) of that table within the area listed in the second column of that item, limited to the case where an individual that has received the certification prescribed in that paragraph, in the case where the provisions then in force continue to govern, pursuant to the provisions of Article 5, paragraph (2) of the Supplementary Provisions of the Okinawa Promotion Act, etc. Amendment Act, an industrial upgrading and business innovation measures implementation plan prescribed in Article 35-3, paragraph (1) of the Act on Special Measures for the Promotion and Development of Okinawa prior to the amendment by the provisions of Article 1 of the Act Partially Amending the Act on Special Measures for the Promotion and Development of Okinawa, etc. (Act No. 7 of 2022; hereinafter referred to as the "Okinawa Promotion Act, etc. Amendment Act" in this paragraph), uses them for that business)".

③A business belonging to the specified economic and financial revitalization industry prescribed in Article 55-2, paragraph (2), item (ii) of the Act on Special Measures for the Promotion and Development of Okinawa (hereinafter referred to as the "former specified economic and financial revitalization industry") that is set out, as of the day before the Effective Date, in the former certified economic and financial revitalization plan prescribed in Article 7, paragraph (1) of the Supplementary Provisions of the Okinawa Promotion Act, etc. Amendment Act is deemed, during the period from the Effective Date to the day on which six months have elapsed from the Effective Date (or, if by that day an economic and financial revitalization plan prescribed in Article 55-2, paragraph (1) of the New Okinawa Promotion Act has been certified pursuant to the provisions of paragraph (4) of that Article, the day before the day on which it was certified) (hereinafter referred to as the "transitional period for the former economic and financial revitalization plan"), to be a business listed in the third column of item (iii) of the new table, and the provisions of Article 12 of the New Act on Special Measures Concerning Taxation (limited to the part concerning that item) apply. In this case, the phrase "an individual who falls under the category of business operators listed in the first column of the respective items of the following table" in paragraph (1) of that Article is deemed to be replaced with "an individual"; the phrase "the second column of the respective items" is deemed to be replaced with "the second column of the respective items of the following table"; and the phrase "depreciable assets that are specified by Cabinet Order as contributing to the promotion of that area" is deemed to be replaced with "depreciable assets".

④The provisions then in force continue to govern specified machinery and equipment prescribed in Article 13, paragraph (1) of the Former Act on Special Measures Concerning Taxation that an individual holds as of December 31 prescribed in that paragraph in the case where the individual employed persons with disabilities referred to in that paragraph in any year up to and including 2022 and meets any of the requirements listed in the items of that paragraph.

⑤The provisions of Article 15, paragraph (1) of the New Act on Special Measures Concerning Taxation apply to warehouse buildings, etc. prescribed in that paragraph that an individual acquires or constructs on or after the Effective Date, and the provisions then in force continue to govern warehouse buildings, etc. prescribed in Article 15, paragraph (1) of the Former Act on Special Measures Concerning Taxation that an individual acquired or constructed before the Effective Date.

①The provisions then in force continue to govern income tax for 2022 and prior years of an individual prescribed in Article 20, paragraph (1) of the Former Act on Special Measures Concerning Taxation.

②With regard to the calculation of the amount of business income for each year from 2023 onward of an individual who, as of December 31, 2022 (hereinafter referred to as the "base date" in this paragraph), has obtained the permission under Article 8, paragraph (1) or Article 15, paragraph (1) of the Act on Waste Management and Public Cleaning (Act No. 137 of 1970) (hereinafter referred to as "installation permission" in this paragraph) (including an individual who, after the base date, receives from another person a transfer of a specified final disposal site for waste prescribed in Article 20, paragraph (1) of the Former Act on Special Measures Concerning Taxation (limited, where that other person is a corporation or an association or foundation without juridical personality prescribed in Article 2, paragraph (1), item (viii) of the Income Tax Act, to a specified final disposal site for waste for which the day on which the installation permission was obtained is on or before the end of the business year of that other person that includes the day before the Effective Date, and, where that other person is an individual, to a specified final disposal site for waste for which the day on which the installation permission was obtained is on or before the base date)), the provisions of Article 20 of the Former Act on Special Measures Concerning Taxation remain in force. In this case, the phrase "March 31, 2022" in paragraph (1) of that Article is deemed to be replaced with "March 31, 2029"; the phrase "60 percent" is deemed to be replaced with "60 percent (or, where the relevant year is 2025, 50 percent; where it is 2026, 40 percent; where it is 2027, 30 percent; where it is 2028, 20 percent; and where it is 2029, 10 percent)"; and the phrase "heir" in paragraph (3), item (iv) of that Article is deemed to be replaced with "heir (limited to one who is an individual prescribed in Article 29, paragraph (2) of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc. (Act No. 4 of 2022); the same applies in paragraphs (6) and (7))".

An individual who falls under the category of certified farmers, etc. prescribed in Article 24-2, paragraph (1) of the New Act on Special Measures Concerning Taxation and who, as a result of the consultation prescribed in Article 11, paragraph (2) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act, has been identified as a farmer expected to play a central role in agriculture in the area that the municipality finds appropriate, is deemed, until the day on which the two years prescribed in Article 5, paragraph (1) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act elapse, to be a person specified by Order of the Ministry of Finance as prescribed in Article 24-2, paragraph (1) of the New Act on Special Measures Concerning Taxation, and the provisions of that Article apply.

The provisions of Article 28-2, paragraph (1) of the New Act on Special Measures Concerning Taxation apply to low-value depreciable assets prescribed in that paragraph that a small and medium sized business operator prescribed in that paragraph acquires, or manufactures or constructs, on or after the Effective Date, and the provisions then in force continue to govern low-value depreciable assets prescribed in that paragraph that a small and medium sized business operator prescribed in Article 28-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation acquired, or manufactured or constructed, before the Effective Date.

①The provisions of Article 33, paragraph (2) of the New Act on Special Measures Concerning Taxation (including as applied mutatis mutandis pursuant to Article 33-2, paragraph (2) of the New Act on Special Measures Concerning Taxation; the same applies hereinafter in this paragraph) apply to assets that are to be substitute assets prescribed in Article 33, paragraph (2) of the New Act on Special Measures Concerning Taxation relating to an expropriation, etc. (meaning an expropriation, etc. prescribed in Article 33, paragraph (1) of the New Act on Special Measures Concerning Taxation (including as applied mutatis mutandis pursuant to Article 33-2, paragraph (2) of the New Act on Special Measures Concerning Taxation)) to which an individual is subjected on or after the Effective Date.

②The provisions of Article 34, paragraph (2) of the New Act on Special Measures Concerning Taxation (limited to the part concerning item (vii)) apply in the case where land, etc. prescribed in paragraph (1) of that Article held by an individual is purchased on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern the case where land, etc. prescribed in Article 34, paragraph (1) of the Former Act on Special Measures Concerning Taxation held by an individual was purchased before that date.

③If, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, agricultural land prescribed in Article 34, paragraph (2), item (vii) of the Former Act on Special Measures Concerning Taxation that is located within the implementation area of an agricultural land use improvement project prescribed in Article 23-2, paragraph (1) of the Act on Promotion of Improvement of Agricultural Management Foundation (Act No. 65 of 1980) prior to the amendment by the provisions of Article 1 of the Agricultural Management Foundation Act, etc. Amendment Act (hereinafter referred to as the "Former Act on Promotion of Improvement of Agricultural Management Foundation"), relating to the agricultural land use rules prescribed in Article 6, paragraph (3) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act in the case where the provisions then in force continue to govern pursuant to that paragraph, is purchased by the farmland intermediary management organization referred to in Article 23-2, paragraph (6) of the Former Act on Promotion of Improvement of Agricultural Management Foundation (limited to a farmland intermediary management organization prescribed in Article 34, paragraph (2), item (vii) of the Former Act on Special Measures Concerning Taxation) based on a request under that paragraph in the case where the provisions then in force continue to govern pursuant to the provisions of Article 6, paragraph (3) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act, that case of purchase is deemed to fall under the case listed in Article 34, paragraph (2), item (vii) of the New Act on Special Measures Concerning Taxation, and the provisions of that Article apply.

④With regard to the application of the provisions of Article 34-2 of the New Act on Special Measures Concerning Taxation in the case where the provisions of the preceding paragraph apply, the phrase "case" in paragraph (2), item (xxv) of that Article is deemed to be replaced with "case (excluding a case that falls under the case listed in paragraph (2), item (vii) of the preceding Article as applied by deeming pursuant to the provisions of Article 32, paragraph (3) of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc. (Act No. 4 of 2022))".

⑤The provisions of Article 34-2, paragraph (2) of the New Act on Special Measures Concerning Taxation (limited to the part concerning item (xxv)) apply in the case where land, etc. prescribed in paragraph (1) of that Article held by an individual is purchased on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern the case where land, etc. prescribed in Article 34-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation held by an individual was purchased before that date.

⑥If, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, agricultural land prescribed in Article 34-2, paragraph (2), item (xxv) of the Former Act on Special Measures Concerning Taxation that is located within the area designated as an agricultural land area prescribed in that item is purchased by the farmland intermediary management organization referred to in Article 16, paragraph (2) of the Former Act on Promotion of Improvement of Agricultural Management Foundation (limited to a farmland intermediary management organization prescribed in that item) based on the consultation under that paragraph in the case where the provisions then in force continue to govern pursuant to the provisions of Article 3, paragraph (2) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act (excluding a case that falls under the case listed in Article 34, paragraph (2), item (vii) of the New Act on Special Measures Concerning Taxation (including as applied by deeming pursuant to the provisions of paragraph (3))), that case of purchase is deemed to fall under the case listed in Article 34-2, paragraph (2), item (xxv) of the New Act on Special Measures Concerning Taxation, and the provisions of that Article apply.

⑦The provisions of Article 34-3, paragraph (2) of the New Act on Special Measures Concerning Taxation (limited to the part concerning item (ii)) apply to a transfer of land, etc. prescribed in Article 34-3, paragraph (1) of the New Act on Special Measures Concerning Taxation that an individual makes on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern a transfer of land, etc. prescribed in Article 34-3, paragraph (1) of the Former Act on Special Measures Concerning Taxation that an individual made before that date.

⑧If, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, land, etc. prescribed in Article 34-3, paragraph (2), item (ii) of the Former Act on Special Measures Concerning Taxation is transferred under the agricultural land use consolidation plan prescribed in Article 5, paragraph (2) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act that remains in force pursuant to the provisions of that paragraph (excluding the case where the provisions of Article 34, paragraph (2), item (vii) (including as applied by deeming pursuant to the provisions of paragraph (3)) or Article 34-2, paragraph (2), item (xxv) (including as applied by deeming pursuant to the provisions of paragraph (6)) of the New Act on Special Measures Concerning Taxation apply), that case of transfer is deemed to fall under the case listed in Article 34-3, paragraph (2), item (ii) of the New Act on Special Measures Concerning Taxation, and the provisions of that Article apply.

⑨The provisions then in force continue to govern a transfer of land, etc. prescribed in Article 34-3, paragraph (2), item (iii) of the Former Act on Special Measures Concerning Taxation that an individual made before the Effective Date.

⑩The provisions then in force continue to govern a transfer of land prescribed in Article 34-3, paragraph (2), item (vii) of the Former Act on Special Measures Concerning Taxation that an individual made before the Effective Date.

⑪The provisions then in force continue to govern a transfer of land, etc. prescribed in Article 34-3, paragraph (2), item (ix) of the Former Act on Special Measures Concerning Taxation that an individual made before the Effective Date.

⑫The provisions then in force continue to govern a transfer prescribed in Article 37-6, paragraph (1) of the Former Act on Special Measures Concerning Taxation of land, etc. prescribed in that paragraph by exchange and consolidation prescribed in item (ii) of that paragraph that an individual made before the Effective Date.

⑬The provisions then in force continue to govern a transfer prescribed in Article 37-9, paragraph (1) of the Former Act on Special Measures Concerning Taxation of business land, etc. prescribed in that paragraph that an individual made within 10 years after December 31 of the year that includes the day of the acquisition prescribed in that paragraph.

The provisions of Article 40-3-2, paragraph (1) of the New Act on Special Measures Concerning Taxation apply to a gift referred to in that paragraph that an individual referred to in that paragraph makes on or after the Effective Date, and the provisions then in force continue to govern a gift referred to in that paragraph that an individual referred to in Article 40-3-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation made before the Effective Date.

①The provisions of Articles 41 through 41-2-2 of the New Act on Special Measures Concerning Taxation (excluding the parts concerning Article 41, paragraphs (6), (13) and (16) of the New Act on Special Measures Concerning Taxation) apply in the case where an individual, on or after January 1, 2022, uses a residential house or existing house prescribed in Article 41, paragraph (1) of the New Act on Special Measures Concerning Taxation, or a house on which extension or renovation, etc. has been carried out (limited to the part pertaining to that extension or renovation, etc.), for the individual's own residential use as prescribed in that paragraph, and the provisions then in force continue to govern the case where an individual, before that date, used a residential house or existing house prescribed in Article 41, paragraph (1) of the Former Act on Special Measures Concerning Taxation, or a house on which extension or renovation, etc. has been carried out (limited to the part pertaining to that extension or renovation, etc.), for the individual's own residential use as prescribed in that paragraph.

②With regard to the application of the provisions of Article 41, paragraphs (10) and (19) of the New Act on Special Measures Concerning Taxation during the period from the Effective Date to the day before the date on which the provisions listed in Article 1, item (iv) of the Supplementary Provisions of the Act Partially Amending the Act on the Promotion of Long-Life Quality Housing, etc. for Improving the Quality of Housing and Developing an Environment for Smooth Transactions (Act No. 48 of 2021) come into effect, the phrase "Article 11, paragraph (1)" in paragraph (10), item (i) and paragraph (19), item (i) of that Article is deemed to be replaced with "Article 10, item (ii)".

③A creditor prescribed in Article 41-2-3, paragraph (1) of the New Act on Special Measures Concerning Taxation that has, by January 31, 2024, submitted to the district director of the competent tax office prescribed in paragraph (2) of that Article a written notification stating that it is difficult for the creditor to submit the record referred to in that paragraph on October 31 prescribed in that paragraph and other matters specified by Order of the Ministry of Finance is not required, notwithstanding the provisions of that Article, to submit the record under the provisions of that paragraph until the day on which the creditor submits to that district director a written notification stating that the circumstances making it difficult have ceased to exist and other matters specified by Order of the Ministry of Finance.

The provisions of Article 41-19-2 of the New Act on Special Measures Concerning Taxation apply in the case where an individual carries out seismic retrofitting of a house prescribed in paragraph (1) of that Article on or after January 1, 2022, and the provisions then in force continue to govern the case where an individual carried out seismic retrofitting of a house prescribed in Article 41-19-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation before that date.

The provisions of Article 41-19-3, paragraphs (1) through (6) of the New Act on Special Measures Concerning Taxation apply in the case where a specified individual or an individual prescribed in paragraph (1) of that Article carries out, on a house for residential use prescribed in that paragraph that is owned by that specified individual or individual, covered renovation work to make a home suitable for elderly persons, etc. prescribed in that paragraph, covered general heat insulation renovation work, etc. prescribed in paragraph (2) of that Article, covered renovation work for multi-generational cohabitation, etc. prescribed in paragraph (3) of that Article, or covered seismic retrofitting of a house or covered durability improvement renovation work, etc. prescribed in paragraph (4) of that Article, and uses that house for residential use as the residence of that specified individual or individual on or after January 1, 2022, and the provisions then in force continue to govern the case where a specified individual or an individual prescribed in Article 41-19-3, paragraph (1) of the Former Act on Special Measures Concerning Taxation carried out, on a house for residential use prescribed in that paragraph that is owned by that specified individual or individual, renovation work to make a home suitable for elderly persons, etc. referred to in that paragraph, covered general heat insulation renovation work, etc. prescribed in paragraph (3) of that Article, renovation work for multi-generational cohabitation, etc. referred to in paragraph (5) of that Article, or covered seismic retrofitting of a house or covered durability improvement renovation work, etc. prescribed in paragraph (6) of that Article, and used that house for residential use as the residence of that specified individual or individual before that date.

The provisions of Article 41-19-4 of the New Act on Special Measures Concerning Taxation apply in the case where an individual newly constructs a certified house, etc. (meaning a certified house, etc. prescribed in paragraph (1) of that Article; the same applies hereinafter in this Article) or makes an acquisition prescribed in that paragraph of a certified house, etc. that has not been used since its construction, and uses that certified house, etc. for the individual's own residential use on or after January 1, 2022, and the provisions then in force continue to govern the case where an individual newly constructed a certified house (meaning a certified house prescribed in Article 41-19-4, paragraph (1) of the Former Act on Special Measures Concerning Taxation; the same applies hereinafter in this Article) or made an acquisition prescribed in Article 41-19-4, paragraph (1) of the Former Act on Special Measures Concerning Taxation of a certified house that had not been used since its construction, and used that certified house for the individual's own residential use before that date.

The provisions then in force continue to govern domestic source income prescribed in Article 41-23, paragraph (1) of the Former Act on Special Measures Concerning Taxation of a nonresident referred to in that paragraph and royalties prescribed in paragraph (3) of that Article of a foreign corporation referred to in that paragraph.

Unless otherwise provided for, the provisions of Chapter III of the New Act on Special Measures Concerning Taxation apply to corporation tax for business years of corporations (including associations or foundations without juridical personality prescribed in Article 2, paragraph (2), item (ii) of the Act on Special Measures Concerning Taxation; the same applies hereinafter up to Article 47 of the Supplementary Provisions) beginning on or after the Effective Date, and the provisions then in force continue to govern corporation tax for business years of corporations that began before the Effective Date.

①The provisions of Article 42-9, paragraph (1) of the New Act on Special Measures Concerning Taxation apply to industrial machinery, etc. prescribed in that paragraph that a corporation acquires, or manufactures or constructs, on or after the Effective Date, and the provisions then in force continue to govern industrial machinery, etc. prescribed in Article 42-9, paragraph (1) of the Former Act on Special Measures Concerning Taxation that a corporation acquired, or manufactured or constructed, before the Effective Date.

②Each area listed in the following items is deemed, during the period specified in the respective item, to be an area listed in the second column of items (i) through (iv), respectively, of the table in Article 42-9, paragraph (1) of the New Act on Special Measures Concerning Taxation (referred to as the "new table" in the following paragraph and paragraph (4)), and the provisions of that Article (limited to the parts concerning those items) apply. In this case, the phrase "a corporation that falls under the category of business operators listed in the first column of the respective items of the following table" in paragraph (1) of that Article is deemed to be replaced with "a corporation"; the phrase "the second column of the respective items" is deemed to be replaced with "the second column of the respective items of the following table"; the phrase "depreciable assets that are specified by Cabinet Order as contributing to the promotion of that area" is deemed to be replaced with "depreciable assets"; and the phrase "when used" is deemed to be replaced with "when used (limited, in the case where they are used for the business listed in the third column of item (iii) of that table within the area listed in the second column of that item, to the case where a corporation that has received the certification prescribed in that paragraph, in the case where the provisions then in force continue to govern, pursuant to the provisions of Article 5, paragraph (2) of the Supplementary Provisions of the Okinawa Promotion Act, etc. Amendment Act, an industrial upgrading and business innovation measures implementation plan prescribed in Article 35-3, paragraph (1) of the Act on Special Measures for the Promotion and Development of Okinawa prior to the amendment by the provisions of Article 1 of the Act Partially Amending the Act on Special Measures for the Promotion and Development of Okinawa, etc. (Act No. 7 of 2022; hereinafter referred to as the "Okinawa Promotion Act, etc. Amendment Act" in this paragraph), uses them for that business)".

③A business belonging to the former specified economic and financial revitalization industry is deemed, during the transitional period for the former economic and financial revitalization plan, to be a business listed in the third column of item (v) of the new table, and the provisions of Article 42-9 of the New Act on Special Measures Concerning Taxation (limited to the part concerning that item) apply. In this case, the phrase "a corporation that falls under the category of business operators listed in the first column of the respective items of the following table" in paragraph (1) of that Article is deemed to be replaced with "a corporation"; the phrase "the second column of the respective items" is deemed to be replaced with "the second column of the respective items of the following table"; and the phrase "depreciable assets that are specified by Cabinet Order as contributing to the promotion of that area" is deemed to be replaced with "depreciable assets".

④The provisions of Article 42-9, paragraph (2) of the New Act on Special Measures Concerning Taxation apply to corporation tax for business years of corporations ending on or after the Effective Date (limited to business years ending on or after the day on which the corporation came to fall under the category of business operators listed in the first column of the respective items of the new table (hereinafter referred to as the "applicable business year" in this paragraph)), and the provisions then in force continue to govern corporation tax for business years of corporations that ended before the Effective Date (including business years ending on or after the Effective Date (excluding applicable business years)).

The provisions of Article 42-11-3, paragraphs (1) and (2) of the New Act on Special Measures Concerning Taxation apply to specified buildings, etc. prescribed in paragraph (1) of that Article that relate to the certification prescribed in those provisions and that a corporation which received that certification on or after March 31, 2020 acquires or constructs on or after the Effective Date, and the provisions then in force continue to govern specified buildings, etc. prescribed in paragraph (1) of that Article that relate to the certification prescribed in Article 42-11-3, paragraph (1) or (2) of the Former Act on Special Measures Concerning Taxation and that a corporation which received that certification on or after March 31, 2020 acquired or constructed before the Effective Date, and specified buildings, etc. prescribed in paragraph (1) of that Article that relate to the certification prescribed in that paragraph or paragraph (2) of that Article and that a corporation which received that certification before March 31, 2020 acquired or constructed.

The provisions of Article 42-12-6, paragraph (2) of the New Act on Special Measures Concerning Taxation apply to certified specified advanced information and communications technology utilization equipment prescribed in paragraph (1) of that Article that a corporation uses for business on or after the Effective Date, and the provisions then in force continue to govern certified specified advanced information and communications technology utilization equipment prescribed in Article 42-12-6, paragraph (1) of the Former Act on Special Measures Concerning Taxation that a corporation used for business before the Effective Date.

①The provisions of Article 45, paragraph (1) of the New Act on Special Measures Concerning Taxation apply to industrial machinery, etc. prescribed in that paragraph that a corporation acquires, or manufactures or constructs, on or after the Effective Date, and the provisions then in force continue to govern industrial machinery, etc. prescribed in Article 45, paragraph (1) of the Former Act on Special Measures Concerning Taxation that a corporation acquired, or manufactured or constructed, before the Effective Date.

②Each area listed in the following items is deemed, during the period specified in the respective item, to be an area listed in the second column of item (i) or item (ii), respectively, of the table in Article 45, paragraph (1) of the New Act on Special Measures Concerning Taxation (referred to as the "new table" in the following paragraph), and the provisions of that Article (limited to the parts concerning those items) apply. In this case, the phrase "a corporation that falls under the category of business operators listed in the first column of the respective items of the following table" in paragraph (1) of that Article is deemed to be replaced with "a corporation"; the phrase "the second column of the respective items" is deemed to be replaced with "the second column of the respective items of the following table"; the phrase "depreciable assets that are specified by Cabinet Order as contributing to the promotion of that area" is deemed to be replaced with "depreciable assets"; and the phrase "excluding them)" is deemed to be replaced with "excluding them, and, in the case where they are used for the business listed in the third column of item (i) of that table within the area listed in the second column of that item, limited to the case where a corporation that has received the certification prescribed in that paragraph, in the case where the provisions then in force continue to govern, pursuant to the provisions of Article 5, paragraph (2) of the Supplementary Provisions of the Okinawa Promotion Act, etc. Amendment Act, an industrial upgrading and business innovation measures implementation plan prescribed in Article 35-3, paragraph (1) of the Act on Special Measures for the Promotion and Development of Okinawa prior to the amendment by the provisions of Article 1 of the Act Partially Amending the Act on Special Measures for the Promotion and Development of Okinawa, etc. (Act No. 7 of 2022; hereinafter referred to as the "Okinawa Promotion Act, etc. Amendment Act" in this paragraph), uses them for that business)".

③A business belonging to the former specified economic and financial revitalization industry is deemed, during the transitional period for the former economic and financial revitalization plan, to be a business listed in the third column of item (iii) of the new table, and the provisions of Article 45 of the New Act on Special Measures Concerning Taxation (limited to the part concerning that item) apply. In this case, the phrase "a corporation that falls under the category of business operators listed in the first column of the respective items of the following table" in paragraph (1) of that Article is deemed to be replaced with "a corporation"; the phrase "the second column of the respective items" is deemed to be replaced with "the second column of the respective items of the following table"; and the phrase "depreciable assets that are specified by Cabinet Order as contributing to the promotion of that area" is deemed to be replaced with "depreciable assets".

④With regard to the application of the provisions of Article 46-2, paragraph (2) of the New Act on Special Measures Concerning Taxation, if a corporation has received, through a qualified merger referred to in that paragraph, a transfer of export business assets prescribed in Article 68-34, paragraph (1) of the Act on Special Measures Concerning Taxation Before the 2020 Amendment as amended by the provisions of Article 12 (hereinafter referred to as the "Act on Special Measures Concerning Taxation Before the 2020 Amendment, as Amended in 2022") to which the provisions of that paragraph are applied, those export business assets are deemed to be export business assets prescribed in Article 46-2, paragraph (1) of the New Act on Special Measures Concerning Taxation to which the provisions of that paragraph are applied. In this case, the period of use prescribed in Article 68-34, paragraph (1) of the Act on Special Measures Concerning Taxation Before the 2020 Amendment, as Amended in 2022 is deemed to be the period of use referred to in Article 46-2, paragraph (2) of the New Act on Special Measures Concerning Taxation.

⑤The provisions of Article 48, paragraph (1) of the New Act on Special Measures Concerning Taxation apply to warehouse buildings, etc. prescribed in that paragraph that a corporation acquires or constructs on or after the Effective Date, and the provisions then in force continue to govern warehouse buildings, etc. prescribed in Article 48, paragraph (1) of the Former Act on Special Measures Concerning Taxation that a corporation acquired or constructed before the Effective Date.

With regard to the calculation of the amount of income for each business year beginning on or after the Effective Date of a corporation that, as of the end of the business year that includes the day before the Effective Date (hereinafter referred to as the "base date" in this Article), has obtained the permission under Article 8, paragraph (1) or Article 15, paragraph (1) of the Act on Waste Management and Public Cleaning (hereinafter referred to as "installation permission" in this Article) (including a corporation that, after the base date, receives from another person a transfer of a specified final disposal site for waste prescribed in Article 56, paragraph (1) of the Former Act on Special Measures Concerning Taxation (limited, where that other person is a corporation, to a specified final disposal site for waste for which the day on which the installation permission was obtained is on or before the base date of that other person, and, where that other person is an individual, to a specified final disposal site for waste for which the day on which the installation permission was obtained is on or before December 31, 2022)), the provisions of Article 56 of the Former Act on Special Measures Concerning Taxation remain in force. In this case, the phrase "March 31, 2022" in paragraph (1) of that Article is deemed to be replaced with "March 31, 2029"; the phrase "(paragraph (7)" is deemed to be replaced with "(paragraph (6)"; the phrase "60 percent" is deemed to be replaced with "60 percent (or, where the relevant business year is a business year beginning during the period from April 1, 2024 to March 31, 2025, 50 percent; where it is a business year beginning during the period from April 1, 2025 to March 31, 2026, 40 percent; where it is a business year beginning during the period from April 1, 2026 to March 31, 2027, 30 percent; where it is a business year beginning during the period from April 1, 2027 to March 31, 2028, 20 percent; and where it is a business year beginning during the period from April 1, 2028 to March 31, 2029, 10 percent)"; the phrase ", qualified company split or qualified capital contribution in kind" in paragraph (3) of that Article is deemed to be replaced with "(limited to one in which the merging corporation is a corporation prescribed in Article 44 of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc. (Act No. 4 of 2022); the same applies in paragraph (8)), qualified company split (limited to one in which the successor corporation in a company split is a corporation prescribed in that Article; the same applies hereinafter in this Article) or qualified capital contribution in kind (limited to one in which the corporation receiving the capital contribution in kind is a corporation prescribed in Article 44 of the Supplementary Provisions of that Act; the same applies hereinafter in this Article)"; the phrase "paragraph (6) of the preceding Article" in paragraph (5) of that Article is deemed to be replaced with "Article 55-2, paragraph (6) of the Act on Special Measures Concerning Taxation prior to the amendment by the provisions of Article 11 of the Act Partially Amending the Income Tax Act, etc. (Act No. 4 of 2022)"; the phrase "60 percent" in paragraph (6) of that Article is deemed to be replaced with "60 percent (or, where the relevant business year is a business year beginning during the period from April 1, 2024 to March 31, 2025, 50 percent; where it is a business year beginning during the period from April 1, 2025 to March 31, 2026, 40 percent; where it is a business year beginning during the period from April 1, 2026 to March 31, 2027, 30 percent; where it is a business year beginning during the period from April 1, 2027 to March 31, 2028, 20 percent; and where it is a business year beginning during the period from April 1, 2028 to March 31, 2029, 10 percent)"; and, in paragraph (13) of that Article, the phrase "paragraph (6)" is deemed to be replaced with "paragraph (5)" and the phrase "paragraph (7)" is deemed to be replaced with "paragraph (6)".

①The provisions of Article 60 of the New Act on Special Measures Concerning Taxation apply to corporation tax for business years of domestic corporations ending on or after the Effective Date, and the provisions then in force continue to govern corporation tax for business years of domestic corporations that ended before the Effective Date.

②With regard to the application of the provisions of Article 60 of the New Act on Special Measures Concerning Taxation in business years ending on or after the Effective Date of a domestic corporation that falls under the category of any of the following corporations (including, where that domestic corporation is a group tax sharing corporation (meaning a group tax sharing corporation prescribed in Article 2, paragraph (2), item (x)-6 of the Act on Special Measures Concerning Taxation; the same applies hereinafter in this paragraph and the following paragraph), that domestic corporation in the case where any other group tax sharing corporation falls under the category of any of the following corporations), the phrase "(limited to one incorporated on or after the day of submission prescribed in the left-hand column of that item" in paragraph (1) of that Article is deemed to be replaced with "that, among those, was incorporated on or after the day of plan submission, etc. (meaning, for a domestic corporation other than a domestic corporation under the transitional measures (meaning a domestic corporation that falls under the category of the corporations listed in the items of Article 45, paragraph (2) of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc. (Act No. 4 of 2022); the same applies hereinafter in this paragraph), the submission prescribed in the left-hand column of the items of that table; for a domestic corporation under the transitional measures that falls under the category of the corporations listed in the left-hand column of item (i) of that table, the designation under Article 29, paragraph (1) of the Act on Special Measures for the Promotion and Development of Okinawa prior to the amendment by the Act Partially Amending the Act on Special Measures for the Promotion and Development of Okinawa (Act No. 7 of 2014) (hereinafter referred to as the '2014 Former Okinawa Promotion Act' in this paragraph); and, for a domestic corporation under the transitional measures that falls under the category of the corporations listed in the left-hand column of item (ii) of that table, the submission under Article 41, paragraph (5) of the Act on Special Measures for the Promotion and Development of Okinawa prior to the amendment by the provisions of Article 1 of the Act Partially Amending the Act on Special Measures for the Promotion and Development of Okinawa, etc. (Act No. 7 of 2022; hereinafter referred to as the 'Okinawa Promotion Act, etc. Amendment Act' in this paragraph) (hereinafter referred to as the 'Former Okinawa Promotion Act' in this paragraph) (or, for a domestic corporation under the transitional measures that has its head office or principal office within a district designated as an international logistics hub industrial cluster area pursuant to the provisions of Article 42, paragraph (1) of the 2014 Former Okinawa Promotion Act, that designation))", and the phrase "within the area listed in the middle column of that item;" is deemed to be replaced with "within the area listed in the middle column of that item ("; in the left-hand column of item (i) of the table in that paragraph, the phrase "limited to …)" is deemed to be replaced with "limited to …; hereinafter referred to as a 'certified corporation' in this item) or a corporation that has received the certification prescribed in Article 4, paragraph (2) of the Supplementary Provisions of the Okinawa Promotion Act, etc. Amendment Act in the case where the provisions then in force continue to govern pursuant to that paragraph (excluding a certified corporation; hereinafter referred to as a 'former certified corporation' in this item)"; in the middle column of that item, the phrase "Article 29, paragraph (1) of that Act" is deemed to be replaced with "Article 29, paragraph (1) of the Act on Special Measures for the Promotion and Development of Okinawa", and the phrase "The area of the special district for the information and communications industry prescribed in Article 28, paragraph (2), item (iii) of that Act that is set out in the submitted information and communications industry promotion plan prescribed in Article 29, paragraph (1) of the Act on Special Measures for the Promotion and Development of Okinawa" is deemed to be replaced with "The area of the special district for the information and communications industry prescribed in Article 28, paragraph (2), item (iii) of that Act that is set out in the submitted information and communications industry promotion plan prescribed in Article 29, paragraph (1) of the Act on Special Measures for the Promotion and Development of Okinawa (or, for a former certified corporation, the special district for the information and communications industry prescribed in Article 28, paragraph (2), item (iii) of the Former Okinawa Promotion Act that is set out, as of March 31, 2022, in the submitted information and communications industry promotion plan prescribed in Article 29, paragraph (1) of the Former Okinawa Promotion Act)"; in the right-hand column of that item, the phrase "that Act" is deemed to be replaced with "the Act on Special Measures for the Promotion and Development of Okinawa", and the phrase "Certified specified information and communications business" is deemed to be replaced with "Certified specified information and communications business (or, for a former certified corporation, the specified information and communications business prescribed in Article 30, paragraph (1) of the Former Okinawa Promotion Act)"; in the left-hand column of item (ii) of that table, the phrase "limited to …)" is deemed to be replaced with "limited to …; hereinafter referred to as a 'certified corporation' in this item) or a corporation that has received the certification prescribed in Article 6, paragraph (3) of the Supplementary Provisions of the Okinawa Promotion Act, etc. Amendment Act in the case where the provisions then in force continue to govern pursuant to that paragraph (excluding a certified corporation; hereinafter referred to as a 'former certified corporation' in this item)"; in the middle column of that item, the phrase "Article 42, paragraph (1) of that Act" is deemed to be replaced with "Article 42, paragraph (1) of the Act on Special Measures for the Promotion and Development of Okinawa", and the phrase "The area of the international logistics hub industrial cluster area prescribed in Article 41, paragraph (2), item (ii) of that Act that is set out in the submitted international logistics hub industrial cluster plan prescribed in Article 42, paragraph (1) of the Act on Special Measures for the Promotion and Development of Okinawa" is deemed to be replaced with "The area of the international logistics hub industrial cluster area prescribed in Article 41, paragraph (2), item (ii) of that Act that is set out in the submitted international logistics hub industrial cluster plan prescribed in Article 42, paragraph (1) of the Act on Special Measures for the Promotion and Development of Okinawa (or, for a former certified corporation, the international logistics hub industrial cluster area prescribed in that item that is set out, as of March 31, 2022, in the submitted international logistics hub industrial cluster plan prescribed in Article 42, paragraph (1) of the Former Okinawa Promotion Act)"; and, in the right-hand column of that item, the phrase "that Act" is deemed to be replaced with "the Act on Special Measures for the Promotion and Development of Okinawa", and the phrase "Certified specified international logistics hub business" is deemed to be replaced with "Certified specified international logistics hub business (or, for a former certified corporation, the specified international logistics hub business prescribed in Article 44, paragraph (1) of the Former Okinawa Promotion Act)".

③With regard to the application of the provisions of Article 60 of the New Act on Special Measures Concerning Taxation in business years ending on or after the Effective Date of a domestic corporation that falls under the category of former certified corporations (meaning corporations that have received the certification prescribed in Article 7, paragraph (2) of the Supplementary Provisions of the Okinawa Promotion Act, etc. Amendment Act in the case where the provisions then in force continue to govern pursuant to that paragraph; the same applies hereinafter in this paragraph) (including, where that domestic corporation is a group tax sharing corporation, that domestic corporation in the case where any other group tax sharing corporation falls under the category of former certified corporations), the phrase "limited to ...)" in paragraph (2) of that Article is deemed to be replaced with "limited to ...) or a former certified corporation prescribed in Article 45, paragraph (3) of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc. (Act No. 4 of 2022)", and the phrase ", that Act" is deemed to be replaced with ", the Act on Special Measures for the Promotion and Development of Okinawa".

A corporation that falls under the category of certified qualified farmland-owning corporations prescribed in Article 61-2, paragraph (1) of the New Act on Special Measures Concerning Taxation and that, as a result of the consultation prescribed in Article 11, paragraph (2) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act, has been identified as a farmer expected to play a central role in agriculture in the area that the municipality finds appropriate, is deemed, until the day on which the two years prescribed in Article 5, paragraph (1) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act elapse, to be a corporation specified by Order of the Ministry of Finance as prescribed in Article 61-2, paragraph (1) of the New Act on Special Measures Concerning Taxation, and the provisions of that Article apply.

①The provisions of Article 64, paragraph (3) of the New Act on Special Measures Concerning Taxation (including as applied mutatis mutandis pursuant to paragraph (10) of that Article (including as applied mutatis mutandis pursuant to Article 65, paragraph (3) of the New Act on Special Measures Concerning Taxation) and Article 65, paragraph (3) of the New Act on Special Measures Concerning Taxation; the same applies hereinafter in this paragraph) apply to assets that are to be substitute assets prescribed in Article 64, paragraph (3) of the New Act on Special Measures Concerning Taxation relating to an expropriation, etc. (meaning an expropriation, etc. prescribed in Article 64, paragraph (1) of the New Act on Special Measures Concerning Taxation (including as applied mutatis mutandis pursuant to Article 65, paragraph (3) of the New Act on Special Measures Concerning Taxation)) to which a corporation is subjected on or after the Effective Date.

②The provisions of Article 65-3, paragraph (1) of the New Act on Special Measures Concerning Taxation (limited to the part concerning item (vii)) apply in the case where land, etc. prescribed in that paragraph held by a corporation is purchased on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern the case where land, etc. prescribed in Article 65-3, paragraph (1) of the Former Act on Special Measures Concerning Taxation held by a corporation was purchased before that date.

③If, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, agricultural land prescribed in Article 65-3, paragraph (1), item (vii) of the Former Act on Special Measures Concerning Taxation that is located within the implementation area of an agricultural land use improvement project prescribed in Article 23-2, paragraph (1) of the Former Act on Promotion of Improvement of Agricultural Management Foundation, relating to the agricultural land use rules prescribed in Article 6, paragraph (3) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act in the case where the provisions then in force continue to govern pursuant to that paragraph, is purchased by the farmland intermediary management organization referred to in Article 23-2, paragraph (6) of the Former Act on Promotion of Improvement of Agricultural Management Foundation (limited to a farmland intermediary management organization prescribed in that item) based on a request under that paragraph in the case where the provisions then in force continue to govern pursuant to the provisions of Article 6, paragraph (3) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act, that case of purchase is deemed to fall under the case listed in Article 65-3, paragraph (1), item (vii) of the New Act on Special Measures Concerning Taxation, and the provisions of that Article apply.

④With regard to the application of the provisions of Article 65-4 of the New Act on Special Measures Concerning Taxation in the case where the provisions of the preceding paragraph apply, the phrase "case" in paragraph (1), item (xxv) of that Article is deemed to be replaced with "case (excluding a case that falls under the case listed in paragraph (1), item (vii) of the preceding Article as applied by deeming pursuant to the provisions of Article 47, paragraph (3) of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc. (Act No. 4 of 2022))".

⑤The provisions of Article 65-4, paragraph (1) of the New Act on Special Measures Concerning Taxation (limited to the part concerning item (xxv)) apply in the case where land, etc. prescribed in that paragraph held by a corporation is purchased on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern the case where land, etc. prescribed in Article 65-4, paragraph (1) of the Former Act on Special Measures Concerning Taxation held by a corporation was purchased before that date.

⑥If, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, agricultural land prescribed in Article 65-4, paragraph (1), item (xxv) of the Former Act on Special Measures Concerning Taxation that is located within the area designated as an agricultural land area prescribed in that item is purchased by the farmland intermediary management organization referred to in Article 16, paragraph (2) of the Former Act on Promotion of Improvement of Agricultural Management Foundation (limited to a farmland intermediary management organization prescribed in that item) based on the consultation under that paragraph in the case where the provisions then in force continue to govern pursuant to the provisions of Article 3, paragraph (2) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act (excluding a case that falls under the case listed in Article 65-3, paragraph (1), item (vii) of the New Act on Special Measures Concerning Taxation (including as applied by deeming pursuant to the provisions of paragraph (3))), that case of purchase is deemed to fall under the case listed in Article 65-4, paragraph (1), item (xxv) of the New Act on Special Measures Concerning Taxation, and the provisions of that Article apply.

⑦The provisions of Article 65-5, paragraph (1) of the New Act on Special Measures Concerning Taxation (limited to the part concerning item (ii)) apply to corporation tax on a transfer of land, etc. prescribed in that paragraph that a qualified farmland-owning corporation prescribed in that paragraph makes on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern corporation tax on a transfer of land, etc. prescribed in that paragraph that a qualified farmland-owning corporation prescribed in Article 65-5, paragraph (1) of the Former Act on Special Measures Concerning Taxation made before that date.

⑧If, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, land, etc. prescribed in Article 65-5, paragraph (1), item (ii) of the Former Act on Special Measures Concerning Taxation is transferred under the agricultural land use consolidation plan prescribed in Article 5, paragraph (2) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act that remains in force pursuant to the provisions of that paragraph (excluding the case where the provisions of Article 65-3, paragraph (1), item (vii) (including as applied by deeming pursuant to the provisions of paragraph (3)) or Article 65-4, paragraph (1), item (xxv) (including as applied by deeming pursuant to the provisions of paragraph (6)) of the New Act on Special Measures Concerning Taxation apply), that case of transfer is deemed to fall under the case listed in Article 65-5, paragraph (1), item (ii) of the New Act on Special Measures Concerning Taxation, and the provisions of that Article apply.

⑨The provisions then in force continue to govern corporation tax on a transfer of land, etc. prescribed in item (iii) of Article 65-5, paragraph (1) of the Former Act on Special Measures Concerning Taxation that a qualified farmland-owning corporation prescribed in that paragraph made before the Effective Date.

⑩The provisions then in force continue to govern corporation tax on a transfer of land prescribed in item (iv) of Article 65-5, paragraph (1) of the Former Act on Special Measures Concerning Taxation that a qualified farmland-owning corporation prescribed in that paragraph made before the Effective Date.

⑪The provisions then in force continue to govern corporation tax on a transfer prescribed in Article 65-10, paragraph (1) of the Former Act on Special Measures Concerning Taxation of land, etc. prescribed in that paragraph by exchange and consolidation prescribed in item (ii) of that paragraph that a corporation made before the Effective Date.

⑫The provisions then in force continue to govern corporation tax on a transfer of other land, etc. prescribed in Article 66-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation that a corporation made within 10 years after the end of the business year that includes the day of the acquisition prescribed in that paragraph.

The provisions of Article 67-5, paragraph (1) of the New Act on Special Measures Concerning Taxation (excluding the part concerning a group tax sharing corporation referred to in that paragraph) apply to low-value depreciable assets prescribed in that paragraph that a small and medium sized enterprise, etc. prescribed in that paragraph acquires, or manufactures or constructs, on or after the Effective Date, and the provisions then in force continue to govern low-value depreciable assets prescribed in that paragraph that a small and medium sized enterprise, etc. prescribed in Article 67-5, paragraph (1) of the Former Act on Special Measures Concerning Taxation acquired, or manufactured or constructed, before the Effective Date.

The provisions then in force continue to govern domestic source income prescribed in Article 67-16-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation of a foreign corporation referred to in that paragraph for business years that began before January 1, 2022.

The provisions of Article 68-2 of the New Act on Special Measures Concerning Taxation apply to a merger listed in any of the items of that Article that is carried out on or after the Effective Date, and the provisions then in force continue to govern a merger listed in any of the items of Article 68-2 of the Former Act on Special Measures Concerning Taxation that was carried out before the Effective Date.

①The provisions of Article 70-2 of the New Act on Special Measures Concerning Taxation apply to gift tax on funds for housing acquisition, etc. prescribed in paragraph (2), item (v) of that Article that a specified donee prescribed in item (i) of that paragraph acquires by gift (excluding a gift that takes effect upon the death of the donor; the same applies hereinafter in this Article and in Article 75 of the Supplementary Provisions) on or after January 1, 2022, and the provisions then in force continue to govern gift tax on funds for housing acquisition, etc. prescribed in item (v) of that paragraph that a specified donee prescribed in Article 70-2, paragraph (2), item (i) of the Former Act on Special Measures Concerning Taxation acquired by gift before that date.

②With regard to the application of the provisions of Article 70-2, paragraph (2), item (i) of the New Act on Special Measures Concerning Taxation in the case where funds for housing acquisition, etc. prescribed in item (v) of that paragraph are acquired by gift during the period from January 1, 2022 to March 31, 2022, the phrase "18 years of age" in that item is deemed to be replaced with "20 years of age".

③The provisions of Article 70-2 of the New Act on Special Measures Concerning Taxation do not apply to funds for housing acquisition, etc. prescribed in paragraph (2), item (v) of that Article that any of the following persons acquires by gift on or after January 1, 2022:

④The provisions of Article 70-3 of the New Act on Special Measures Concerning Taxation apply to gift tax on funds for housing acquisition, etc. prescribed in paragraph (3), item (v) of that Article that a specified donee prescribed in item (i) of that paragraph acquires by gift on or after January 1, 2022, and the provisions then in force continue to govern gift tax on funds for housing acquisition, etc. prescribed in item (v) of that paragraph that a specified donee prescribed in Article 70-3, paragraph (3), item (i) of the Former Act on Special Measures Concerning Taxation acquired by gift before that date.

⑤With regard to the application of the provisions of Article 70-3, paragraph (3), item (i), (c) of the New Act on Special Measures Concerning Taxation in the case where funds for housing acquisition, etc. prescribed in item (v) of that paragraph are acquired by gift during the period from January 1, 2022 to March 31, 2022, the phrase "18 years of age" in (c) of that item is deemed to be replaced with "20 years of age".

⑥The provisions of Article 70-4 of the New Act on Special Measures Concerning Taxation apply to gift tax on farmland, etc. prescribed in Article 70-4, paragraph (1) of the New Act on Special Measures Concerning Taxation acquired by gift on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern gift tax on farmland, etc. prescribed in Article 70-4, paragraph (1) of the Former Act on Special Measures Concerning Taxation acquired by gift before that date.

⑦Each of the following persons is deemed to be a donee prescribed in Article 70-4, paragraph (1) of the New Act on Special Measures Concerning Taxation, and the provisions of paragraphs (8) through (14) of that Article apply:

⑧The provisions of Article 70-4, paragraphs (8) through (14) of the New Act on Special Measures Concerning Taxation as applied pursuant to the provisions of the preceding paragraph apply in the case where land is lent or borrowed, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, under a promotion plan for agricultural land use consolidation, etc. prescribed in Article 70-4, paragraph (8) of the New Act on Special Measures Concerning Taxation, and the provisions then in force continue to govern the case where land was lent or borrowed, before that date, under an agricultural land use consolidation plan prescribed in Article 70-4, paragraph (8) of the Former Act on Special Measures Concerning Taxation.

⑨The provisions of Article 70-4-2, paragraphs (1) and (2) of the New Act on Special Measures Concerning Taxation apply in the case where a specified loan prescribed in Article 70-4-2, paragraph (1) of the New Act on Special Measures Concerning Taxation is made on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern the case where a specified loan prescribed in Article 70-4-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation was made before that date.

⑩If, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, all or part of the farmland or pasture land referred to in Article 70-4, paragraph (8) or (11) or Article 70-4-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation is lent or borrowed under the agricultural land use consolidation plan prescribed in Article 5, paragraph (2) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act that remains in force pursuant to the provisions of that paragraph, that land is deemed to have been lent or borrowed under a promotion plan for agricultural land use consolidation, etc. prescribed in Article 70-4, paragraph (8) or (11) of the New Act on Special Measures Concerning Taxation or to have been the subject of a specified loan prescribed in Article 70-4-2, paragraph (1) of the New Act on Special Measures Concerning Taxation, and the provisions of Article 70-4, paragraphs (8) through (14), Article 70-4-2 or Article 70-6-3 of the New Act on Special Measures Concerning Taxation apply.

⑪The provisions of Article 70-6 of the New Act on Special Measures Concerning Taxation apply to inheritance tax on special farmland, etc. prescribed in Article 70-6, paragraph (1) of the New Act on Special Measures Concerning Taxation acquired by inheritance or bequest (including a gift that takes effect upon the death of the donor; the same applies hereinafter) on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern inheritance tax on special farmland, etc. prescribed in Article 70-6, paragraph (1) of the Former Act on Special Measures Concerning Taxation acquired by inheritance or bequest before that date.

⑫Each of the following persons is deemed to be a farming heir prescribed in Article 70-6, paragraph (1) of the New Act on Special Measures Concerning Taxation, and the provisions of paragraphs (10) through (17) of that Article apply:

⑬The provisions of Article 70-6, paragraphs (10) through (17) of the New Act on Special Measures Concerning Taxation as applied pursuant to the provisions of the preceding paragraph apply in the case where land is lent or borrowed, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, under a promotion plan for agricultural land use consolidation, etc. prescribed in Article 70-6, paragraph (10) of the New Act on Special Measures Concerning Taxation, and the provisions then in force continue to govern the case where land was lent or borrowed, before that date, under an agricultural land use consolidation plan prescribed in Article 70-6, paragraph (10) of the Former Act on Special Measures Concerning Taxation.

⑭The provisions of Article 70-6-2, paragraph (1) of the New Act on Special Measures Concerning Taxation apply in the case where a specified loan prescribed in that paragraph is made on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern the case where a specified loan prescribed in Article 70-6-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation was made before that date.

⑮If, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, all or part of the farmland or pasture land referred to in Article 70-6, paragraph (10) or (13) or Article 70-6-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation is lent or borrowed under the agricultural land use consolidation plan prescribed in Article 5, paragraph (2) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act that remains in force pursuant to the provisions of that paragraph, that land is deemed to have been lent or borrowed under a promotion plan for agricultural land use consolidation, etc. prescribed in Article 70-6, paragraph (10) or (13) of the New Act on Special Measures Concerning Taxation or to have been the subject of a specified loan prescribed in Article 70-6-2, paragraph (1) of the New Act on Special Measures Concerning Taxation, and the provisions of Article 70-6, paragraphs (10) through (17), Article 70-6-2 or Article 70-6-3 of the New Act on Special Measures Concerning Taxation apply.

①The provisions of Article 77 of the New Act on Special Measures Concerning Taxation apply to registration and license tax on the registration of transfer of ownership of land prescribed in Article 77 of the New Act on Special Measures Concerning Taxation in the case where a person prescribed in that Article acquires that land on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, and the provisions then in force continue to govern registration and license tax on the registration of transfer of ownership of land prescribed in Article 77 of the Former Act on Special Measures Concerning Taxation in the case where a person prescribed in that Article acquired that land before that date.

②If land prescribed in Article 77 of the Former Act on Special Measures Concerning Taxation is acquired, on or after the date specified in Article 1, item (xi) of the Supplementary Provisions, through a project for promoting the establishment of use rights, etc. prescribed in Article 4, paragraph (3), item (i) of the Former Act on Promotion of Improvement of Agricultural Management Foundation relating to the agricultural land use consolidation plan prescribed in Article 5, paragraph (2) of the Supplementary Provisions of the Agricultural Management Foundation Act, etc. Amendment Act that remains in force pursuant to the provisions of that paragraph, the land prescribed in Article 77 of the New Act on Special Measures Concerning Taxation is deemed to have been acquired under the promotion plan for agricultural land use consolidation, etc. prescribed in that Article, and the provisions of that Article apply.

③With regard to the application of the provisions of Article 81, paragraph (1) of the New Act on Special Measures Concerning Taxation in the case where the certification referred to in that paragraph is received during the period from the Effective Date to March 31, 2023, the phrase "13/1,000" in that paragraph is deemed to be replaced with "10/1,000".

The provisions of Article 87-6, paragraphs (1) through (4) and (7) of the New Act on Special Measures Concerning Taxation apply to liquor that a liquor manufacturer (meaning a liquor manufacturer prescribed in Article 2, paragraph (4), item (ii) of the Act on Special Measures Concerning Taxation; the same applies hereinafter in this Article) operating a tax-free liquor shop prescribed in paragraph (7) of that Article ships from that tax-free liquor shop on or after April 1, 2023, in order to sell to a person eligible for tax-free purchase prescribed in Article 87-6, paragraph (1) of the New Act on Special Measures Concerning Taxation liquor prescribed in that paragraph that is purchased for export by the method prescribed in that paragraph, and the provisions then in force continue to govern liquor that a liquor manufacturer operating a tax-free liquor shop prescribed in Article 87-6, paragraph (7) of the Former Act on Special Measures Concerning Taxation shipped from that tax-free liquor shop before that date in order to sell to a nonresident prescribed in paragraph (1) of that Article liquor prescribed in that paragraph that is purchased for export by the method prescribed in that paragraph.

①The provisions then in force continue to govern aviation fuel tax that was imposed, or should have been imposed, before the Effective Date.

②If, at the time when an aircraft prescribed in Article 90-8 of the New Act on Special Measures Concerning Taxation first flies on or after the Effective Date (hereinafter referred to as the "time of first flight" in this paragraph), there exists in that aircraft aviation fuel on which aviation fuel tax has been or is to be imposed at the tax rate prescribed in Article 90-8, Article 90-8-2, paragraph (1) or Article 90-9, paragraph (1) of the Former Act on Special Measures Concerning Taxation, that aviation fuel is deemed to have been unloaded from that aircraft at the time of first flight at the place where that aircraft is located at the time of first flight, and aviation fuel on which aviation fuel tax is to be imposed at the tax rate prescribed in the provisions of law specified in the following items, according to the category of that aircraft at the time of first flight listed in those items, is deemed to have been loaded onto that aircraft:

③Beyond what is provided for in the preceding two paragraphs, necessary matters concerning the application of those provisions are specified by Cabinet Order.

With regard to the application of penal provisions to acts committed before this Act (or, for the provisions set forth in the items of Article 1 of the Supplementary Provisions, those provisions; hereinafter the same applies in this Article) comes into effect, and to acts committed after this Act comes into effect in the cases where the provisions then in force continue to govern pursuant to the provisions of these Supplementary Provisions and in the cases where provisions remain in force pursuant to the provisions of these Supplementary Provisions, the provisions then in force continue to govern.

Beyond what is provided for in these Supplementary Provisions, transitional measures necessary in connection with the enforcement of this Act are specified by Cabinet Order.