Article 142-3Investment Assets and Investment Income of Insurance Companies
第百四十二条の三（保険会社の投資資産及び投資収益）
In the case where the amount of investment assets (meaning those specified by Ministry of Finance Order as assets under management in the case where money or other assets received as insurance premiums are managed in preparation for the performance of future debts under insurance contracts; hereinafter the same applies in this paragraph and paragraph (5)) pertaining to the permanent establishment for each business year of a foreign corporation (limited to a foreign insurance company, etc. prescribed in Article 2, paragraph (7) (Definitions) of the Insurance Business Act; hereinafter the same applies in this paragraph) is less than the amount calculated, as specified by Cabinet Order, as the amount that should be attributed to the permanent establishment out of the amount of investment assets of the foreign corporation, the amount calculated, as specified by Cabinet Order, as the amount of proceeds pertaining to the amount equivalent to the shortfall is included in gross profit, as the amount of proceeds pertaining to the business carried on through the permanent establishment of the foreign corporation, when calculating the amount of income pertaining to income attributable to a permanent establishment of the foreign corporation for the business year.
外国法人（保険業法第二条第七項（定義）に規定する外国保険会社等に限る。以下この項において同じ。）の各事業年度の恒久的施設に係る投資資産（保険料として収受した金銭その他の資産を保険契約に基づく将来の債務の履行に備えるために運用する場合のその運用資産として財務省令で定めるものをいう。以下この項及び第五項において同じ。）の額が、当該外国法人の投資資産の額のうち当該恒久的施設に帰せられるべき金額として政令で定めるところにより計算した金額に満たない場合には、その満たない部分に相当する金額に係る収益の額として政令で定めるところにより計算した金額は、当該外国法人の当該恒久的施設を通じて行う事業に係る収益の額として、当該外国法人の当該事業年度の恒久的施設帰属所得に係る所得の金額の計算上、益金の額に算入する。
The provisions of the preceding paragraph do not apply in the case falling under any of the following:
前項の規定は、次のいずれかに該当する場合には、適用しない。
the amount equivalent to the shortfall prescribed in the preceding paragraph is 10 percent or less of the amount calculated, as specified by Cabinet Order, as the amount that should be attributed to the permanent establishment prescribed in that paragraph;
the amount calculated, as specified by Cabinet Order, as the amount of proceeds pertaining to the amount equivalent to the shortfall prescribed in the preceding paragraph is 10,000,000 yen or less; or
前項に規定する満たない部分に相当する金額に係る収益の額として政令で定めるところにより計算した金額が千万円以下であるとき。
the case falls under the case specified by Cabinet Order as a case where the amount of the total assets pertaining to the permanent establishment for the business year exceeds the sum of the amount of liabilities and the amount of net assets pertaining to the permanent establishment for the business year.
The provisions of the preceding paragraph apply only in the case where documents stating that the case falls under any of the cases listed in the items of that paragraph and documents concerning the calculation thereof are retained.
Even in the case where the documents set forth in the preceding paragraph have not been retained, the district director may, when finding that there are unavoidable circumstances for the failure to retain them, apply the provisions of paragraph (2) only in the case where those documents are submitted.
The time of the calculation of the amount of investment assets and other necessary matters concerning the application of the provisions of paragraphs (1) and (2) are specified by Cabinet Order.