In the case where a domestic corporation receives interest, etc., dividends, etc., compensation for periodic deposits, interest, profits, margin profits, distributions of profit, or monetary awards prescribed in the items of Article 174 (Tax Base for a domestic corporation's Income Taxes) of the Income Tax Act (referred to as "interest and dividends, etc." in the following paragraph) in each business year, the amount of income tax to be imposed thereon pursuant to the provisions of that Act (excluding the amount equivalent to the foreign tax adjusted at distribution prescribed in Article 69-2, paragraph (1) (Credit for Amount Equivalent to the Foreign Tax Adjusted at Distribution) that pertains to the amount of income tax) is credited against the amount of corporation tax on its income for the business year, as specified by Cabinet Order.
内国法人が各事業年度において所得税法第百七十四条各号（内国法人に係る所得税の課税標準）に規定する利子等、配当等、給付補塡金、利息、利益、差益、利益の分配又は賞金（次項において「利子及び配当等」という。）の支払を受ける場合には、これらにつき同法の規定により課される所得税の額（当該所得税の額に係る第六十九条の二第一項（分配時調整外国税相当額の控除）に規定する分配時調整外国税相当額を除く。）は、政令で定めるところにより、当該事業年度の所得に対する法人税の額から控除する。
The provisions of the preceding paragraph do not apply to the amount of income tax set forth in the paragraph to be imposed on interest and dividends, etc. which a corporation in the public interest, etc. or an association or foundation without juridical personality receives and which arises from a business other than its profit-making business or assets belonging thereto
In the case where there is a refund under the provisions of Article 78, paragraph (1) (Refund of Income Tax) or Article 133, paragraph (1) (Refund of Income Tax Due to Reassessment, etc.) as a result of the filing of an interim return stating the matters listed in the items of Article 72, paragraph (1) (Matters to be Entered in Interim Return in the Case of Provisional Settlement of Accounts) in the business year referred to in paragraph (1), the amount of income tax referred to in paragraph (1) is not to include the amount of the refund.
The provisions of paragraph (1) apply only in the case where there is an attachment to a Final Return, an amended return or a written request for Reassessment of documents stating the amount of credit to be received pursuant to the provisions of the paragraph and a detailed statement concerning the calculation thereof. In this case, the amount to be credited under the provisions of the paragraph does not exceed the amount entered as the amount.