With respect to income arising from trust property, the provisions of this Section and Chapter V, Section 2 are applied by deeming the beneficiary of the trust (limited to a person who actually has rights as a beneficiary) to hold the assets and liabilities belonging to the trust property of that trust; provided, however, that this does not apply to income arising from the trust property of a collective investment trust (meaning a collective investment trust prescribed in Article 13, paragraph (3), item (i) of the Income Tax Act), a retirement pension, etc. trust (meaning a retirement pension, etc. trust prescribed in item (ii) of that paragraph), or a trust subject to corporate taxation.
信託財産について生ずる所得については、信託の受益者（受益者としての権利を現に有するものに限る。）が当該信託の信託財産に属する資産及び負債を有するものとみなして、この節及び第五章第二節の規定を適用する。ただし、集団投資信託（所得税法第十三条第三項第一号に規定する集団投資信託をいう。）、退職年金等信託（同項第二号に規定する退職年金等信託をいう。）又は法人課税信託の信託財産について生ずる所得については、この限りでない。
A person who actually has the authority to make changes to a trust (other than what Cabinet Order prescribes as the authority to make minor changes) and who is meant to benefit from the trust property (other than a beneficiary) is deemed to be a beneficiary as prescribed in the preceding paragraph, and the provisions of that paragraph apply.
The application of paragraph (1) in the case where there are two or more beneficiaries, the determination of whether a person falls under a person who is meant to benefit from the trust property as prescribed in the preceding paragraph, and other matters necessary for the application of the provisions of the preceding two paragraphs are specified by Cabinet Order.
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trust subject to corporate taxationmachine translation
「法人課税信託」
A trust subject to corporate taxation as defined in Article 2, item (xxix)-2 of the Corporation Tax Act (Act No. 34 of 1965).
Defined inArticle 24, paragraph (1), item (iv-2)· applies only in this section