Supplementary Provisions

This Act comes into effect on the date specified by Cabinet Order within a period not exceeding six months from the date of promulgation.

①The provisions of Article 349-3, paragraph (24) of the Local Tax Act as amended by the provisions of the preceding Article apply to the depreciable assets prescribed in that paragraph that are newly established on or after the Effective Date, from fixed assets tax for the fiscal year that includes April 1 of the year following the year that includes the Effective Date.

②The provisions of Article 349-3, paragraph (24) of the Local Tax Act as amended by the provisions of the preceding Article are also to apply to the depreciable assets prescribed in that paragraph that were newly established on or after January 2, 1970 and before the Effective Date. In this case, the tax base of fixed assets tax imposed on those depreciable assets is, for the number of fiscal years obtained by subtracting from five the number of fiscal years from the fiscal year that includes April 1 of the year following the year that includes the date on which those depreciable assets were newly established (where that date is January 1, the year that includes that date) through the previous fiscal year to the fiscal year referred to in the preceding paragraph, beginning with the fiscal year referred to in that paragraph, an amount equivalent to one-third of the price of those depreciable assets, and for the following five fiscal years, an amount equivalent to two-thirds of the price of those depreciable assets.