①The provisions of Article 63 of the New Act apply to corporation tax on a transfer, etc. of land prescribed in paragraph (1) of that Article that a corporation carries out on or after the Effective Date, and with regard to corporation tax on such a transfer, etc. of land that a corporation carried out before the Effective Date, the provisions then in force continue to govern. In this case, with regard to any such transfer, etc. of land carried out on or after the Effective Date, out of those a corporation carries out in a business year that commenced before the Effective Date and ends on or after the Effective Date, the corporation may, only if it is a transfer for which the corporation seeks the application of the provisions of paragraph (3), items (i) through (vi) of that Article, and as specified by Cabinet Order, follow the provisions of Article 63, paragraph (3) of the Former Act in lieu of the application of the provisions of that paragraph.

②The provisions of Article 63, paragraph (6), item (ii) of the New Act apply to the calculation of the amount of corporation tax in the case where a corporation receives the application of the provisions of Article 66-5 of the New Act in each business year ending on or after the Effective Date.

③With regard to corporation tax on a transfer of land, etc. prescribed in Article 65-4, paragraph (1) of the Former Act that a corporation carried out before January 1, 1978 and that falls under the case listed in item (iii) of that paragraph, the provisions then in force continue to govern.