①If the amount of income tax collected pursuant to the provisions of Articles 199 through 202 (Withholding from Retirement Income) of the former Act on severance pay or other such compensation payable during 1975 which was paid before the effective date exceeds the amount of income tax that would result from applying the provisions of Articles 201 and 202 of the new Act to that severance pay or other such compensation, the Resident who received payment of that severance pay or other such compensation may, pursuant to the provisions of Cabinet Order, request the district director with jurisdiction over the place for tax payment to refund the excess amount by June 30 of that year.

②If a request for a refund under the preceding paragraph has been made for severance pay or other such compensation prescribed in that paragraph, then, with regard to the application of the provisions on returns, Reassessment or determination, payment, collection (excluding withholding on severance pay or other such compensation) and refunds (excluding the refund to which the request pertains) concerning the Resident's income tax for 1975, and the application of the provisions of Article 201, paragraph (1), item (ii) of the new Act to severance pay or other such compensation payable during that year which is paid on or after the effective date, income tax is deemed to have been collected on the severance pay or other such compensation to which the request pertains in the amount obtained by deducting the amount to be refunded under the request from the amount of income tax collected on it pursuant to the provisions of Articles 199 through 202 of the former Act.

③If the interest on refund prescribed in Article 58, paragraph (1) (Interest on Refunds) of the Act on General Rules for National Taxes is calculated for a refund under paragraph (1), the period referred to in that paragraph which serves as the basis for the calculation is to be the period beginning on the day after the day on which one month elapses from the day on which the request for a refund under paragraph (1) was made, and ending on the day on which the decision to pay the refund is made or on the day on which Appropriation of the refund is made (or, if there is a day before that day on which the refund became suitable for Appropriation, ending on that day).