This Act comes into effect on April 1, 2017; provided, however, that the provisions set forth in the following items come into effect on the dates specified respectively in those items:

①The provisions of Articles 1-3 and 1-4 of the Inheritance Tax Act as amended by the provisions of Article 4 (referred to as the "New Inheritance Tax Act" in this Article) apply to inheritance tax or gift tax on property acquired by inheritance or bequest (including a gift that takes effect upon the death of the person who made the gift; the same applies hereinafter) or by gift (excluding a gift that takes effect upon the death of the person who made the gift; the same applies hereinafter) on or after the Effective Date, and the provisions then in force continue to govern inheritance tax or gift tax on property acquired by inheritance, bequest or gift before the Effective Date.

②Where property is acquired by inheritance, bequest or gift during the period from the Effective Date to March 31, 2022 from a non-resident foreign national (meaning a person who has not had a domicile in the area where the New Inheritance Tax Act is enforced continuously from the Effective Date until the time of the inheritance, bequest or gift and who does not have Japanese nationality), and the person who acquired that property is, at the time of acquiring it, a person who does not have a domicile in the area where the New Inheritance Tax Act is enforced and who does not have Japanese nationality, with regard to the application of the provisions of Article 1-3, paragraph (1), item (ii), (b) or Article 1-4, paragraph (1), item (ii), (b) of the New Inheritance Tax Act, the phrase "or a nonresident decedent" in Article 1-3, paragraph (1), item (ii), (b) of the New Inheritance Tax Act is deemed to be replaced with ", a nonresident decedent or a non-resident foreign national (meaning a non-resident foreign national prescribed in Article 31, paragraph (2) of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc., and Other Matters (Act No. 4 of 2017); the same applies in the following Article, paragraph (1), item (ii), (b))", and the phrase "or a nonresident donor" in Article 1-4, paragraph (1), item (ii), (b) of the New Inheritance Tax Act is deemed to be replaced with ", a nonresident donor or a non-resident foreign national".

③The provisions of Article 41, paragraphs (2) and (5) of the New Inheritance Tax Act apply where an application is made for permission for payment in kind on or after the Effective Date pursuant to the provisions of Article 42, paragraph (1) of the New Inheritance Tax Act (including as applied mutatis mutandis pursuant to Article 45, paragraph (2) of the New Inheritance Tax Act) or Article 48-2, paragraph (2) of the New Inheritance Tax Act, and the provisions then in force continue to govern where an application was made for permission for payment in kind before the Effective Date pursuant to the provisions of Article 42, paragraph (1) of the Inheritance Tax Act before amendment by the provisions of Article 4 (referred to as the "Former Inheritance Tax Act" in this Article) (including as applied mutatis mutandis pursuant to Article 45, paragraph (2) of the Former Inheritance Tax Act) or Article 48-2, paragraph (2) of the Former Inheritance Tax Act.

④With regard to registered corporate bonds, etc. prescribed in Article 3 of the Supplementary Provisions of the Act on the Arrangement of Relevant Acts for the Improvement of Securities Markets Through Reform of the Securities Settlement System and Other Systems (Act No. 65 of 2002), the provisions of Article 41 of the Former Inheritance Tax Act (including as applied mutatis mutandis pursuant to Article 45, paragraph (2) or Article 48-2, paragraph (6) of the Former Inheritance Tax Act) remain in force.

⑤The provisions of Article 64, paragraph (4) of the New Inheritance Tax Act apply to mergers, etc. prescribed in that paragraph that take place on or after October 1, 2017, and the provisions then in force continue to govern mergers, etc. prescribed in Article 64, paragraph (4) of the Former Inheritance Tax Act that took place before that date.

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; the same applies hereinafter 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, 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.