①Except as otherwise specially provided, the provisions of the New Act relating to fixed assets tax apply from fixed assets tax for fiscal year 1974, and the provisions then in force continue to govern fixed assets tax up to fiscal year 1973.

②With regard to fixed assets tax for each fiscal year from fiscal year 1974 on imposed on houses and depreciable assets used for power stations prescribed in Article 349-3, paragraph (1) of the Former Act that were constructed during the period up to January 1, 1974 (excluding those used for power stations by the agriculture, forestry and fisheries organizations referred to in Article 2, paragraph (1) of the Act on Promotion of Introduction of Electricity to Farming, Mountain and Fishing Villages), the rules of that paragraph are followed, with the phrase "paragraph (21)" in Article 349-3, paragraph (1) of the Former Act deemed to be replaced with "Article 15, paragraph (9) of the Supplementary Provisions", the phrase "1/3" with "2/3", and the phrase "2/3" with "5/6".

③The provisions of Article 349-3, paragraph (4) of the New Act in so far as they relate to machinery and other equipment listed in item (vii) of the table in Article 11, paragraph (1) of the Act on Special Measures Concerning Taxation or item (vii) of the table in Article 43, paragraph (1) of that Act apply, from fixed assets tax for fiscal year 1974, to those machinery and other equipment newly installed on or after April 1, 1973; the provisions of Article 349-3, paragraph (4) of the New Act in so far as they relate to machinery and other equipment for waste recycling apply, from fixed assets tax for fiscal year 1975, to those machinery and other equipment newly installed on or after the Effective Date; and the provisions of that paragraph in so far as they relate to machinery and equipment for joint use by persons engaged in agriculture, forestry or fisheries or by small and medium-sized enterprises apply, from fixed assets tax for fiscal year 1974, to those machinery and equipment newly installed on or after January 2, 1973.

④With regard to fixed assets tax for each fiscal year from fiscal year 1974 on imposed on machinery and facilities, etc. newly installed during the period up to March 31, 1976 to which the provisions of Article 6 of the Enterprise Rationalization Promotion Act (Act No. 5 of 1952) prior to amendment by the Act Partially Amending the Act on Special Measures Concerning Taxation (Act No. 5 of 1976) applied, the rules of Article 349-3, paragraph (4) of the Former Act are followed, with the phrase "Enterprise Rationalization Promotion Act" in that paragraph deemed to be replaced with "Enterprise Rationalization Promotion Act prior to amendment by the Act Partially Amending the Act on Special Measures Concerning Taxation (Act No. 5 of 1976)", the phrase "to which the provisions of Article 6 apply" with "to which the provisions of Article 6 applied", the phrase "the preceding three paragraphs" with "Article 349-3, paragraph (1) of the Local Tax Act prior to amendment by the Act Partially Amending the Local Tax Act (Act No. 19 of 1974), the rules of which are to be followed pursuant to the provisions of Article 7, paragraph (2) of the Supplementary Provisions of that Act, Article 349-3, paragraph (2) of the Local Tax Act prior to amendment by the Act Partially Amending the Local Tax Act (Act No. 18 of 1975), which is to remain in force pursuant to the provisions of Article 9, paragraph (3) of the Supplementary Provisions of that Act, and the preceding three paragraphs", and the phrase "1/2" with "1/2 (2/3 for machinery and facilities, etc. newly installed during the period from April 1, 1973 to March 31, 1976)".

⑤The provisions of Article 349-3, paragraph (13) of the New Act apply, from fixed assets tax for fiscal year 1974, to vehicles prescribed in that paragraph acquired on or after January 2, 1973.

⑥The provisions of Article 349-3, paragraph (13) of the Former Act remain in force with respect to fixed assets tax imposed on vehicles prescribed in that paragraph acquired during the period up to January 1, 1973.

⑦The provisions of Article 349-3, paragraph (26) of the New Act apply, from fixed assets tax for fiscal year 1974, to fixed assets prescribed in that paragraph constructed on or after January 2, 1973.

⑧The provisions of Article 349-3, paragraph (26) of the New Act also apply, from fixed assets tax for fiscal year 1974, to fixed assets prescribed in that paragraph constructed during the period up to January 1, 1973. In this case, the phrase "five fiscal years from the fiscal year in which fixed assets tax comes to be newly imposed on the fixed assets" in that paragraph is deemed to be replaced with "as many fiscal years from fiscal year 1974 as the number 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 the fixed assets were constructed (if that date is January 1, the year that includes that date) through fiscal year 1973".

⑨The provisions of Article 349-5 of the New Act also apply to fixed assets tax for fiscal year 1974 and thereafter on depreciable assets used for a single factory, power station or substation constructed before the Effective Date (including equipment added to a single factory, power station or substation that is found to be similar to a single factory, power station or substation; hereinafter in this paragraph, the following paragraph, and Article 28, paragraphs (6) and (7) of the Supplementary Provisions referred to as a "single factory"), for which 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 that single factory was constructed (if that date is January 1, the year that includes that date) through fiscal year 1974 does not exceed five (excluding those to which the provisions of the following paragraph apply).

⑩With regard to depreciable assets used for a single factory constructed during the period up to January 1, 1973 to which the provisions of Article 349-5 of the Former Act applied when calculating the amount to be the tax base of fixed assets tax for fiscal year 1973, the provisions of that Article are applied, deeming those depreciable assets to be newly built large-scale depreciable assets prescribed in Article 349-5 of the New Act, only to fixed assets tax for each fiscal year from fiscal year 1974 through the last fiscal year to which the provisions of that Article could be applied if they were to remain in force. In this case, the fiscal years that would correspond to the first application year, second application year, third application year, fourth application year or fifth application year prescribed in that Article for those depreciable assets if the provisions of Article 349-5 of the Former Act were to remain in force are deemed to be, respectively, the first application year prescribed in Article 349-5, paragraph (1) of the New Act, or the first application year, second application year, third application year, fourth application year or fifth application year prescribed in paragraph (2) of that Article, for those depreciable assets.

⑪The provisions of Article 14, paragraph (2) of the Supplementary Provisions of the Former Act remain in force with respect to fixed assets tax imposed on houses and depreciable assets prescribed in that paragraph acquired during the period from April 1, 1966 to July 31, 1973.

⑫The provisions of Article 15, paragraph (4) of the Supplementary Provisions of the Former Act remain in force with respect to fixed assets tax imposed on machinery and facilities, etc. prescribed in that paragraph acquired during the period from January 2, 1967 to January 1, 1974.

Only for fixed assets tax for fiscal year 1974, a mayor of a municipality may, for the amounts specified in each of the following items relating to the building land, etc. set forth in those items, substitute notification of those amounts to the owner of the building land, etc. for the inspection of the fixed assets tax ledger under the provisions of Article 415 of the New Act. In this case, with regard to the application of Article 417, paragraph (1) and Article 432, paragraph (1) of the New Act to the amount obtained by multiplying the price of small-scale residential land (meaning small-scale residential land prescribed in Article 349-3-2, paragraph (2) of the New Act; the same applies hereinafter through the following Article) by the rate specified in that paragraph, or to the comparison-based price of building land, etc. specified in item (iii), the phrase "after the day on which the fixed assets tax ledger was made available for public inspection pursuant to the provisions of Article 415, paragraph (1), the fact that the price, etc. of the fixed assets has not been registered, or the registered price, etc." in Article 417, paragraph (1) of the New Act is deemed to be replaced with "after the day on which notification of the price, etc. of the fixed assets was given pursuant to the provisions of Article 8 of the Supplementary Provisions of the Act Partially Amending the Local Tax Act (Act No. 19 of 1974), the price, etc. relating to that notification", and the phrase "during the period from the first day of the inspection period under Article 415, paragraph (1) (including the case under Article 419, paragraph (3)) until 10 days after the last day thereof," in Article 432, paragraph (1) of the New Act with "the day on which notification of the price, etc. of the fixed assets was received pursuant to the provisions of Article 8 of the Supplementary Provisions of the Act Partially Amending the Local Tax Act".