Supplementary Provisions, Article 4Transitional Measures Accompanying the Abolition of Tax Exemption Measures, etc. for Fixed Assets Tax or City Planning Tax Relating to Japanese National Railways

For fixed assets tax or city planning tax for fiscal year 1988 only, a municipality may not impose fixed assets tax or city planning tax, notwithstanding Article 342 or Article 702, paragraph (1), on, among the fixed assets owned by the Japanese National Railways Settlement Corporation, a successor corporation prescribed in Article 11, paragraph (2) of the Japanese National Railways Reform Act (Act No. 87 of 1986), the Japan Railway Construction Public Corporation or any other person specified by Cabinet Order, fixed assets to which Article 348, paragraph (2), item (ii) of the Former Act (limited to the portion concerning Japanese National Railways) or item (xxvii) of that paragraph applied on the day before the Effective Date (including fixed assets specified by Cabinet Order that those persons acquire on or after the Effective Date and that are used for operations similar to the operations prescribed in Article 3 of the Japanese National Railways Act (Act No. 256 of 1948) prior to its repeal pursuant to paragraph (2) of the Supplementary Provisions of the Japanese National Railways Reform Act).