Article 37-15Special Provisions on Taxation on Income from the Transfer of Beneficial Interest in a Loan Trust, etc.
第三十七条の十五（貸付信託の受益権等の譲渡による所得の課税の特例）
No income tax is imposed on income from the transfer of discount bonds prescribed in Article 41-12, paragraph (7) to which the provisions of paragraph (1) of that Article apply with regard to the profit from redemption prescribed in paragraph (7) of that Article, long-term credit bank bonds, etc. prescribed in Article 2, paragraph (2), item (v) of the Deposit Insurance Act, beneficial interest in a loan trust, and other items specified by Cabinet Order (referred to as "beneficial interest in a loan trust, etc." in the following paragraph).
第四十一条の十二第七項に規定する償還差益につき同条第一項の規定の適用を受ける同条第七項に規定する割引債、預金保険法第二条第二項第五号に規定する長期信用銀行債等、貸付信託の受益権その他政令で定めるもの（次項において「貸付信託の受益権等」という。）の譲渡による所得については、所得税を課さない。
Where the revenue from the transfer of beneficial interest in a loan trust, etc. is less than the sum of the acquisition cost of the beneficial interest in a loan trust, etc. and the expenses required for the transfer thereof as prescribed in Article 33, paragraph (3) of the Income Tax Act, or is less than the necessary expenses for the transfer thereof, the amount of the shortfall is deemed not to exist for the purpose of applying the provisions of that Act.
貸付信託の受益権等の譲渡による収入金額が当該貸付信託の受益権等の所得税法第三十三条第三項に規定する取得費及びその譲渡に要した費用の額の合計額又はその譲渡に係る必要経費に満たない場合におけるその不足額については、同法の規定の適用については、ないものとみなす。