This Act comes into effect on April 1, 1962.

The provisions of the Local Tax Act as amended by this Act (hereinafter referred to as the "New Act") concerning individual prefectural inhabitant tax (excluding Article 24-3, paragraph (1), Article 32, paragraphs (8) and (9), and Article 34, paragraph (1), items (i) and (iv) of the New Act) apply from individual prefectural inhabitant tax for fiscal year 1962, and the provisions then in force continue to govern individual prefectural inhabitant tax through fiscal year 1961.

The provisions of Article 24-3, paragraph (1), Article 32, paragraphs (8) and (9), and Article 34, paragraph (1), items (i) and (iv) of the New Act apply from individual prefectural inhabitant tax for fiscal year 1963, and the provisions then in force continue to govern individual prefectural inhabitant tax through fiscal year 1962.

The provisions of Article 23, paragraph (1), item (iv), Article 53, paragraph (10) and paragraph (8) of the Supplementary Provisions (limited to the part relating to corporate prefectural inhabitant tax) of the New Act apply from corporate prefectural inhabitant tax for the business year that includes the date of enforcement of this Act (hereinafter referred to as the "Effective Date"), and the provisions then in force continue to govern corporate prefectural inhabitant tax for each business year through the business year immediately preceding the business year that includes that date.

The provisions of Article 56, paragraph (2) of the New Act apply to the calculation of the amount of delinquency charge collected on or after the Effective Date; provided, however, that the provisions then in force continue to govern the calculation of the amount of delinquency charge corresponding to a period before that date.

The provisions of Article 57, paragraph (2) of the New Act apply from corporate prefectural inhabitant tax for business years for which the return due date under the first sentence of Article 53, paragraph (1) of the New Act arrives on or after the Effective Date, and the provisions then in force continue to govern corporate prefectural inhabitant tax for business years for which that return due date arrived before that date.

The provisions of the New Act concerning individual enterprise tax (excluding Article 72-15 and Article 72-17, paragraphs (4) and (5) of the New Act) apply from individual enterprise tax for fiscal year 1962, and the provisions then in force continue to govern individual enterprise tax through fiscal year 1961.

The provisions of Article 72-17, paragraphs (4) and (5) of the New Act apply from the amount of loss caused by a disaster prescribed in Article 72-17, paragraph (5) of the New Act that occurred on or after January 1, 1962, and the provisions then in force continue to govern the amount of loss on disaster-stricken inventory assets that arose before that date and the amount of loss under Article 72-17, paragraph (6) of the Local Tax Act prior to amendment by this Act (hereinafter referred to as the "Former Act").

The provisions of Article 72-22, paragraph (1), item (ii) and paragraph (2), and Article 72-48, paragraph (1), paragraph (4), items (ii) and (iii), and paragraph (6) of the New Act apply from corporate enterprise tax for the business year that includes the Effective Date and corporate enterprise tax on liquidation income from dissolution or merger on or after that date (including corporate enterprise tax for business years during liquidation and corporate enterprise tax to be paid upon the distribution of part of residual assets; the same applies in this Article), and the provisions then in force continue to govern corporate enterprise tax for each business year through the business year immediately preceding the business year that includes that date and corporate enterprise tax on liquidation income from dissolution or merger before that date.

In the case where a corporation files and pays on or after the Effective Date under the main clause of Article 72-26, paragraph (1) of the New Act (including the case where a return is deemed to have been filed under Article 72-26, paragraph (4) of the New Act), the amount of tax paid as enterprise tax for the previous business year prescribed in Article 72-26, paragraph (1) of the New Act, or the amount of tax finalized as payable, or the finalized enterprise tax amount of the merged corporation prescribed in Article 72-26, paragraph (2) of the New Act, is, notwithstanding the main clause of Article 72-26, paragraph (1) or Article 72-26, paragraph (2) of the New Act, the amount calculated on the assumption that Article 72-22 of the New Act applied to the income for the business year that formed the basis for calculating the amount of tax for that business year or the finalized enterprise tax amount of that merged corporation, respectively.

The provisions of Article 73-27-2 of the New Act apply to the case where real property is acquired on or after the Effective Date.

The provisions of Article 73-27-3 of the New Act apply to the acquisition of property transferred as security by a holder of a security interest by transfer made on or after the Effective Date, and the provisions then in force continue to govern the acquisition of property transferred as security made before that date.

The provisions of Article 73-27-4 of the New Act apply to the acquisition of the site of a disaster-prevention building by a disaster-prevention building block development association made on or after the Effective Date, and the provisions then in force continue to govern the acquisition of the site of a disaster-prevention building made before that date.

The provisions of Article 73-27-5 of the New Act apply to the case where a business cooperative, etc. acquires real property on or after the Effective Date.

In applying the provisions of Article 73-14, paragraphs (6) and (7), Article 73-21, paragraph (2) and Article 73-27-2, paragraph (1) of the New Act, and paragraph (11) of the Supplementary Provisions of the New Act, in the case where real property is acquired before January 1, 1964, the phrase "in accordance with the fixed asset valuation standards under Article 388, paragraph (1)" in those provisions is deemed to be replaced with "in conformity with the standards of valuation, and the method and procedures for carrying out valuation, indicated under the provisions of Article 388, paragraph (3) of the Local Tax Act prior to amendment by the Act Partially Amending the Local Tax Act (Act No. 51 of 1962)".

The provisions of Articles 74 and 74-2 of the New Act apply to manufactured tobacco sold on or after the Effective Date to retailers or directly to consumers for domestic consumption, and the provisions then in force continue to govern the portion relating to a time before that date.

The provisions of the New Act concerning individual municipal inhabitant tax (excluding Article 294-3, paragraph (1), Article 313, paragraphs (8) and (9), Article 314-2, paragraph (1), items (i) and (iv), and Article 314-3, paragraph (1) of the New Act) apply from individual municipal inhabitant tax for fiscal year 1962, and the provisions then in force continue to govern individual municipal inhabitant tax through fiscal year 1961.