Article 314-9Deduction of Dividend Levy Amount or Share Transfer Income Levy Amount

①Where a person liable for the income levy has been assessed a dividend levy amount under the provisions of Section 1, Subsection 5 of the preceding Chapter on the amount of specified dividends, etc. that formed the basis for calculating the amount of income pertaining to specified dividends, etc. stated in the final return prescribed in Article 313, paragraph (13), or has been assessed a share transfer income levy amount under the provisions of Subsection 6 of that Section on the amount of specified shares, etc. transfer income that formed the basis for calculating the amount of income pertaining to the amount of specified shares, etc. transfer income stated in the final return prescribed in paragraph (15) of that Article, the municipality is to deduct the amount obtained by multiplying that dividend levy amount or that share transfer income levy amount by three-fifths from the amount of the income levy of that person calculated by applying Article 314-3 and the preceding three Articles.

②Where there is an amount that should be deducted under the provisions of the preceding paragraph but could not be deducted from the income levy amount referred to in that paragraph, the municipality must, as provided by Cabinet Order, refund that amount that could not be deducted to the person liable for tax referred to in that paragraph. In this case, where there are individual prefectural inhabitant tax, individual municipal inhabitant tax or forest environment tax for the fiscal year following the fiscal year that includes the last day of the year pertaining to the final return of that person liable for tax referred to in that paragraph, or unpaid local government levies of that person liable for tax or unpaid collections of that person pertaining to the forest environment tax prescribed in Article 2, item (v) of the Act on the Forest Environment Tax and the Forest Environment Transfer Tax (referred to as "municipal collections" in this paragraph), then, notwithstanding Article 17-2-2, that person liable for tax is deemed to have entrusted the mayor of the municipality that is to make the refund with the payment or remittance of the municipal collections out of the amount to be refunded (up to the amount equivalent to the amount pertaining to the municipal collections).

③Where there is an amount that should be deducted under the provisions of Article 37-4 but could not be deducted from the income levy amount referred to in that Article, the municipality is to apply the provisions of the preceding paragraph by deeming that amount that could not be deducted to be an amount that should be deducted under paragraph (1) but could not be deducted from the income levy amount referred to in that paragraph.