Supplementary Provisions, Article 12Transitional Measures Concerning Inclusion in Deductible Expenses of Losses Where Corporate Reorganization, etc. Caused a Release from Obligation, etc.
第十二条（会社更生等による債務免除等があった場合の欠損金の損金算入に関する経過措置）
The provisions of Article 59, paragraph (1) of the New Corporation Tax Act apply in the case where an order commencing reorganization proceedings is made on or after the Effective Date pursuant to the provisions of the Corporate Reorganization Act (Act No. 154 of 2002) or the Act on Special Measures for the Reorganization Proceedings of Financial Institutions (Act No. 95 of 1996).
新法人税法第五十九条第一項の規定は、施行日以後に会社更生法（平成十四年法律第百五十四号）又は金融機関等の更生手続の特例等に関する法律（平成八年法律第九十五号）の規定による更生手続開始の決定がされる場合について適用する。
The provisions of Article 59, paragraph (2) of the New Corporation Tax Act apply to corporation tax on income for business years of a corporation ending on or after the Effective Date (excluding, among the business years that commence before the Effective Date and end on or after the Effective Date, a business year that includes the date on which a fact prescribed in Article 10, paragraph (3) of the Supplementary Provisions or paragraph (2) of the preceding Article occurred, where the date on which that fact occurred is before the Effective Date (referred to as a "transitional business year" in this paragraph)), and with regard to corporation tax on income for business years of a corporation that ended before the Effective Date (including transitional business years), the provisions then in force continue to govern.