Where an individual has cut down or transferred forest that the individual has continuously held since on or before December 31 of the year 15 years before that year, the necessary expenses to be deducted from gross revenue in calculating the amount of timber income from that cutting or transfer may, notwithstanding the provisions of Article 37, paragraph (2) and Part II, Chapter II, Section 2, Subsections 4 and 5 of the Income Tax Act, be the amount calculated by multiplying the revenue from that cutting or transfer (where cutting expenses, transportation expenses, or other expenses specified by Order of the Ministry of Finance were required in connection with that cutting or transfer, the amount after deducting those expenses) by the ratio set pursuant to the provisions of paragraph (4) (where there is the amount so deducted, or an amount of losses on business assets damaged by disaster prescribed in Article 70, paragraph (3) of that Act that arose in that year with regard to the operations that generate timber income, the amount after adding those amounts).
個人が、その年の十五年前の年の十二月三十一日以前から引き続き所有していた山林を伐採し、又は譲渡した場合において、当該伐採又は譲渡による山林所得の金額の計算上総収入金額から控除すべき必要経費は、所得税法第三十七条第二項並びに第二編第二章第二節第四款及び第五款の規定にかかわらず、当該伐採又は譲渡による収入金額（当該伐採又は譲渡に関し、伐採費、運搬費その他の財務省令で定める費用を要したときは、当該費用を控除した金額）に第四項の規定により定められた割合を乗じて算出した金額（その控除した金額又は山林所得を生ずべき業務につきその年において生じた同法第七十条第三項に規定する被災事業用資産の損失の金額があるときは、これらの金額を加算した金額）とすることができる。
With regard to the application of the provisions of the preceding paragraph, forest acquired by inheritance, bequest, or gift is deemed to have been held continuously by the heir, legatee, or donee; provided, however, that this does not apply to the following forests:
前項の規定の適用については、相続、遺贈又は贈与により取得した山林は、相続人、受遺者又は受贈者が引き続き所有していたものとみなす。ただし、次に掲げる山林については、この限りでない。
forested land acquired by universal legacy during 1953;
昭和二十八年中に包括遺贈により取得した山林
forested land acquired during the period from January 1, 1953 to December 31, 1961 by legacy (excluding universal legacy and specific legacy to an heir; the same applies in the following item) or gift (excluding a gift to an heir that is to take effect upon the death of the donor who is the decedent; the same applies in the following item and item (iv));
forested land acquired during the period from January 1, 1962 to March 31, 1965 by legacy or gift, to which the provisions of Article 5-2, paragraph (3) of the former Income Tax Act (Act No. 27 of 1947) were not applied;
昭和三十七年一月一日から昭和四十年三月三十一日までの間に遺贈又は贈与により取得した山林で旧所得税法（昭和二十二年法律第二十七号）第五条の二第三項の規定の適用を受けなかつたもの
forested land acquired during the period from April 1, 1965 to December 31, 1972 by inheritance (limited to inheritance involving qualified acceptance; the same applies in the following item), legacy (excluding universal legacy other than that involving qualified acceptance, and specific legacy to an heir) or gift, to which the provisions of Article 59, paragraph (2) of the Income Tax Act prior to the amendment by the Act Partially Amending the Income Tax Act (Act No. 8 of 1973) were not applied;
昭和四十年四月一日から昭和四十七年十二月三十一日までの間に相続（限定承認に係るものに限る。次号において同じ。）、遺贈（包括遺贈のうち限定承認に係るもの以外のもの及び相続人に対する特定遺贈を除く。）又は贈与により取得した山林で所得税法の一部を改正する法律（昭和四十八年法律第八号）による改正前の所得税法第五十九条第二項の規定の適用を受けなかつたもの
forested land acquired on or after January 1, 1973 by inheritance, legacy (limited to legacy to the trustee of a public interest trust prescribed in Article 2, paragraph (1), item (i) of the Act on Public Interest Trusts (hereinafter referred to in this item as a "public interest trust") (limited to legacy for the purpose of making it trust property) and universal legacy involving qualified acceptance) or gift (limited to gift to the trustee of a public interest trust (limited to gift for the purpose of making it trust property)).
昭和四十八年一月一日以後に相続、遺贈（公益信託に関する法律第二条第一項第一号に規定する公益信託（以下この号において「公益信託」という。）の受託者に対するもの（その信託財産とするためのものに限る。）及び包括遺贈のうち限定承認に係るものに限る。）又は贈与（公益信託の受託者に対するもの（その信託財産とするためのものに限る。）に限る。）により取得した山林
The provisions of paragraph (1) do not apply if the final return does not contain a statement to the effect that the provisions of that paragraph are to be applied.
The ratio by which the revenue from the felling or transfer prescribed in paragraph (1) is to be multiplied pursuant to the provisions of that paragraph is specified by Order of the Ministry of Finance on the basis of the amount calculated pursuant to the provisions of Cabinet Order as the value of the forested land as of January 1 of the year following the year 15 years before the year that includes the date of the felling or transfer, and of the management expenses and other necessary expenses normally required on or after that date (excluding felling expenses, transportation expenses and other expenses specified by Order of the Ministry of Finance as prescribed in that paragraph).