Article 12Special Provisions on Returns, Payment, etc. for Deposit Passbooks, etc.

①The preparer of a passbook specified by Cabinet Order among the taxable documents set out in items 18 and 19 of Appended Table 1 (hereinafter referred to as "deposit passbooks, etc." in this Article) may, as provided by Cabinet Order, with the approval of the competent district director for the location of the place where the preparer intends to prepare the deposit passbooks, etc., instead of affixing corresponding revenue stamps, pay in money the stamp tax on the deposit passbooks, etc. prepared within each taxable period (meaning the period from April 1 to March 31 of the following year; the same applies hereinafter in this Article) that falls on or after the date of the approval.

②If the applicant for the approval under the preceding paragraph does not provide the security ordered under Article 15, or in any other case found inappropriate for the preservation of stamp tax, the district director may decline to grant the approval.

③A person who has received the approval under paragraph (1) must, by the time of making the first entry in a taxable period, put on the deposit passbooks, etc. covered by the approval an indication in the form specified by Ministry of Finance Order; provided, however, that this does not apply to deposit passbooks, etc. that already bear the indication.

④Where the approval under paragraph (1) has been received, the deposit passbooks, etc. that the person who received the approval prepares within a taxable period are deemed to be prepared at the start of that taxable period, and the quantity of the deposit passbooks, etc. prepared within that taxable period is deemed to be the quantity equivalent to the number calculated, as provided by Cabinet Order, as the number of accounts relating to the deposit passbooks, etc. for each type of deposit passbooks, etc. at the start of that taxable period.

⑤A person who has received the approval under paragraph (1) must, as provided by Cabinet Order, submit a return stating the following matters, for each taxable period, within one month counting from the start date of that taxable period, to the district director who gave the approval:

⑥A person who has submitted a return under the preceding paragraph must pay to the national government, by the due date for submission of the return, the stamp tax equivalent to the tax payable stated in the return.

⑦A person who has received the approval under paragraph (1) is to, when it is no longer necessary to be subject to the application of that paragraph with respect to the deposit passbooks, etc. covered by the approval, notify the district director referred to in that paragraph to that effect, as provided by Cabinet Order.