Supplementary Provisions, Article 7Transitional Measures Concerning Fixed Assets Tax

①Except as otherwise specially provided, the provisions of the New Act relating to fixed assets tax apply from fixed assets tax for fiscal year 1978, and the provisions then in force continue to govern fixed assets tax up to fiscal year 1977.

②The provisions of Article 349-3, paragraph (10) of the New Act apply from fixed assets tax to be imposed on aircraft prescribed in that paragraph on which fixed assets tax comes to be imposed in fiscal year 1978.

③The provisions of Article 349-3, paragraph (10) of the Local Tax Act prior to the amendment (hereinafter referred to as the "Former Act") remain in force with respect to fixed assets tax imposed on aircraft prescribed in that paragraph on which fixed assets tax came to be imposed in fiscal year 1977. In this case, the phrase "aircraft to which the provisions of the preceding paragraph apply" in that paragraph is deemed to be replaced with "aircraft operating exclusively on international routes".

④The provisions of Article 15, paragraph (2) of the Supplementary Provisions of the Former Act remain in force with respect to fixed assets tax imposed on automatic train stop devices prescribed in that paragraph that were newly installed up to January 1, 1977. In this case, the phrase "paragraph (14) or (18)" in that paragraph is deemed to be replaced with "paragraph (13) or (17)".

⑤The provisions of Article 15, paragraph (9) of the Supplementary Provisions of the Former Act (limited to the portion concerning fixed assets tax) remain in force with respect to fixed assets tax imposed on the fixed assets prescribed in that paragraph that are acquired during the period up to January 1, 1977.