Supplementary Provisions, Article 3Application of Provisions on Enterprise Tax

①The provisions of the proviso to Article 72-14, paragraph (1) of the New Act apply to the calculation of income for each business year for business years beginning on or after April 1, 1970, and the provisions then in force continue to govern the calculation of income for each business year for business years that began before that date; provided, however, that the provisions of the proviso to Article 72-14, paragraph (1) of the Former Act remain in force with respect to the calculation of income for each business year that forms the tax base of enterprise tax on a corporation that, pursuant to the provisions of Article 14, paragraph (1) of the Supplementary Provisions of the Act Partially Amending the Act on Special Measures Concerning Taxation, is to be governed by the provisions of Article 56 of the Act on Special Measures Concerning Taxation Before the Amendment.

②The provisions of Article 72-48, paragraph (4), item (iii) of the New Act apply to corporate enterprise tax for business years ending on or after the Effective Date and to corporate enterprise tax on liquidation income arising from dissolution or merger on or after that date (including corporate enterprise tax for a business year in liquidation and corporate enterprise tax payable upon a partial distribution of residual assets; the same applies hereinafter in this paragraph), and the provisions then in force continue to govern corporate enterprise tax for business years that ended before that date and corporate enterprise tax on liquidation income arising from dissolution or merger before that date.

③The provisions of Article 72-18, paragraphs (1) and (2) of the New Act apply from individual enterprise tax for fiscal year 1970, and the provisions then in force continue to govern individual enterprise tax up to fiscal year 1969.