Article 7Tax Exemption on Interest on Deposits Managed in a Special International Financial Transactions Account
第七条（特別国際金融取引勘定において経理された預金等の利子の非課税）
Where a financial institution prescribed in paragraph (3) of Article 21 of the Foreign Exchange and Foreign Trade Act (Act No. 228 of 1949) has received deposits or borrowings on or after April 1, 1998, from a foreign corporation that has been certified, pursuant to the provisions of Order of the Ministry of Finance, as falling under the category of nonresident prescribed in the paragraph, and has managed such deposits or borrowings in a Special International Financial Transactions Account prescribed in the paragraph (hereinafter referred to in this Article as a "Special International Financial Transactions Account"), income tax is not imposed with respect to any interest on the deposits or borrowings paid to the foreign corporation (including gains specified by Cabinet Order as arising from transactions specified by Cabinet Order as sales and purchases of bonds with repurchase or resale agreements); provided, however, that where any event has occurred that is in violation of the provisions of Cabinet Order established pursuant to the provisions of Article 21, paragraph (4) of the Act, which pertains to the matters concerning the settlement of a Special International Financial Transactions Account, the provisions of the main clause of this Article do not apply to such interest pertaining to the accounting period that includes the day on which such event has occurred.
外国為替及び外国貿易法（昭和二十四年法律第二百二十八号）第二十一条第三項に規定する金融機関が、平成十年四月一日以後に、外国法人で同項に規定する非居住者であることにつき財務省令で定めるところにより証明がされたものから預入を受け、又は借り入れる預金又は借入金で同項に規定する特別国際金融取引勘定（以下この条において「特別国際金融取引勘定」という。）において経理したものにつき、当該外国法人に対して支払う利子（債券の買戻又は売戻条件付売買取引として政令で定めるものから生ずる差益として政令で定めるものを含む。）については、所得税を課さない。ただし、同法第二十一条第四項の規定に基づき定められた政令の規定のうち特別国際金融取引勘定の経理に関する事項に係るものに違反する事実が生じた場合の当該利子で当該事実が生じた日の属する計算期間に係るものについては、この限りでない。