①Any amount specified by Cabinet Order as the amount of distribution of proceeds from a specified investment trust (meaning an investment trust prescribed in Article 2, paragraph (3) of the Act on Investment Trusts and Investment Corporations (referred to in this paragraph as the "Investment Trust Act"), which falls under the category of trust subject to corporate taxation; hereinafter the same applies in this Article) (such amount of distribution of proceeds referred to in this paragraph and paragraph (4) as "amount of distribution of proceeds"), which pertains to the business year of the Trust Corporation (meaning a Trust Corporation prescribed in Article 4-3 of the Corporation Tax Act (limited to a Trust Corporation that is deemed to be a domestic corporation pursuant to the provisions of Article 4-3, item (i) of the Act as applied mutatis mutandis pursuant to Article 2-2, paragraph (3) and therefore be subject to the provisions of this Act); the same applies in the following paragraph and paragraph (3)) for the specified investment trust, is included in the amount of deductible expenses in the calculation of the amount of [the Trust Corporation's] income for the business year, if the specified investment trust satisfies the requirements listed in item (i) and the business year satisfies the requirements listed in item (ii); provided, however, that where the amount of distribution of proceeds exceeds the amount specified by Cabinet Order as the amount of [the Trust Corporation's] income for the business year, the amount to be included in the amount of deductible expenses is to be limited to such amount specified by Cabinet Order:

③With regard to the application of the provisions of Article 62-3, paragraph (3), Article 66-8, paragraphs (1) and (7), and Article 66-9-4, paragraphs (1) and (6) to a Trust Corporation for a specified investment trust, the phrase "that which falls under" in Article 62-3, paragraph (3) is deemed to be replaced with "that which falls under, and a transfer conducted by the Trust Corporation prescribed in Article 68-3-3, paragraph (1) for a specified investment trust prescribed in that paragraph that is conducted in a business year that satisfies the requirements listed in item (ii) of that paragraph (excluding (b))", the phrase "a foreign corporation (excluding one that falls under the category of foreign subsidiary prescribed in Article 23-2, paragraph (1) of the Corporation Tax Act; hereinafter the same applies in this paragraph)" in Article 66-8, paragraph (1) is deemed to be replaced with "a foreign corporation", the phrase "that Act" with "the Corporation Tax Act", the phrase "a foreign corporation (excluding one that falls under the category of foreign subsidiary prescribed in Article 23-2, paragraph (1) of the Corporation Tax Act; hereinafter the same applies in this paragraph)" in paragraph (7) of that Article with "a foreign corporation", the phrase "a foreign corporation (excluding one that falls under the category of foreign subsidiary prescribed in Article 23-2, paragraph (1) of the Corporation Tax Act; hereinafter the same applies in this paragraph)" in Article 66-9-4, paragraph (1) with "a foreign corporation", the phrase "that Act" with "the Corporation Tax Act", and the phrase "a foreign corporation (excluding one that falls under the category of foreign subsidiary prescribed in Article 23-2, paragraph (1) of the Corporation Tax Act; hereinafter the same applies in this paragraph)" in paragraph (6) of that Article with "a foreign corporation".

④With regard to the application of the provisions of Article 23 of the Corporation Tax Act to the amount of distribution of proceeds from a specified investment trust (limited to one that satisfies the requirements listed in paragraph (1), item (i), (b) and (c)) received by a corporation, the phrase "amounts (for the amount listed in item (i)" in paragraph (1) of that Article is deemed to be replaced with "amounts (excluding the amount of distribution of proceeds prescribed in Article 68-3-3, paragraph (1) of the Act on Special Measures Concerning Taxation from a specified investment trust prescribed in paragraph (4) (Special Provisions on Taxation of the Trust Corporation of a Special Investment Trust) of that Article, and, for the amount listed in item (i)".

⑤The provisions of paragraph (1) apply only where the Trust Corporation for a specified investment trust has filed a final return prescribed in Article 2, item (xxxi) of the Corporation Tax Act (referred to in the following paragraph as a "final return") for the business year for which the Trust Corporation seeks the application of the provisions of the paragraph, with an application made therein to seek the inclusion in deductible expenses of the amount to be included in the amount of deductible expenses pursuant to the provisions of paragraph (1) and a written statement attached thereto regarding the calculation of the amount to be included in the amount of deductible expenses, and preserved the documents that certify that the requirements listed in item (i), (b) and (c) of the paragraph are satisfied.

⑥Even where the Trust Corporation for a specified investment trust has filed a final return without the application or written statement set forth in the preceding paragraph attached thereto or failed to preserve the documents on the calculation set forth in the paragraph, the district director may, when they find any unavoidable reason for the Trust Corporation's failure to make a necessary application, attach a necessary written statement or preserve the necessary documents on the calculation, apply the provisions of paragraph (1).

⑦Beyond what is specified in the preceding two paragraphs, the application of the provisions of paragraphs (1) through (4), and other necessary matters concerning the application of the provisions of laws and regulations concerning corporation tax on income for the relevant business year of a Trust Corporation prescribed in Article 4-3 of the Corporation Tax Act from a specified investment trust and of the beneficiaries of the specified investment trust are specified by Cabinet Order.