This Act comes into effect as of April 1, 2024; provided, however, that the provisions set forth in the following items come into effect as of the dates specified respectively in those items.

The provisions of Article 2, item (xii)-14 of the Corporation Tax Act as amended by the provisions of Article 2 (hereinafter referred to as the "New Corporation Tax Act") apply to a contribution in kind made on or after October 1, 2024, and with regard to a contribution in kind made before that date, the provisions then in force continue to govern.

The provisions of Article 2, item (xxix)-2, Article 12 and Article 37 of the New Corporation Tax Act (limited to the part concerning public interest trusts prescribed in paragraph (5) of that Article) apply to public interest trusts prescribed in that paragraph (including trusts that have received transition authorization) that take effect on or after the date specified in Article 1, item (ix) of the Supplementary Provisions, and with regard to public interest trusts prescribed in Article 1 of the Act on Charitable Trust prior to the amendment by the Act on Public Interest Trusts that took effect before that date (excluding those that have received transition authorization), except as provided for in the following Article, the provisions then in force continue to govern.

With regard to the amount of money that a corporation (including an association or foundation without juridical personality; the same applies in the following Article) spends to make it trust property of a specified public interest trust prescribed in Article 37, paragraph (6) of the Corporation Tax Act prior to the amendment by the provisions of Article 2 (excluding one that has received transition authorization), the provisions of that paragraph remain in force. In this case, the phrases "specified public interest trust (meaning a public interest trust prescribed in Article 1 (Public Interest Trusts) of the Act on Charitable Trust (Act No. 62 of 1922) that has been certified, as specified by Cabinet Order, as a trust whose trust property, at the time of termination of the trust, does not vest in the settlor of the trust pertaining to that trust property and that meets the requirements specified by Cabinet Order with regard to the implementation of its trust affairs)" and "specified public interest trust prescribed in paragraph (6)" in that paragraph are deemed to be replaced with "specified public interest trust prescribed in Article 8 of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc. (Act No. 8 of 2024) (Transitional Measures for Exclusion of Contributions or Donations from Deductible Expenses)".

①The provisions of Article 61 of the New Corporation Tax Act apply to corporation tax on income for a business year of a corporation ending on or after the Effective Date, and with regard to corporation tax on income for a business year of a corporation that ended before the Effective Date, the provisions then in force continue to govern.

②With regard to the application of the provisions of Article 61 of the New Corporation Tax Act in each business year ending on or after the Effective Date to crypto-assets (meaning crypto-assets prescribed in Article 61, paragraph (1) of the Corporation Tax Act; hereinafter the same applies in this paragraph) deemed to fall under specified self-issued crypto-assets prescribed in Article 12, paragraph (2) of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc. (Act No. 3 of 2023; hereinafter referred to as the "2023 Amendment Act" in this paragraph) pursuant to the provisions of that paragraph, those crypto-assets (limited to crypto-assets that were issued by the corporation referred to in Article 12, paragraph (2) of the Supplementary Provisions of the 2023 Amendment Act and that it has held continuously since the end of the business year of the amendment prescribed in that paragraph, and that are specified by Cabinet Order as having been continuously subject to restrictions on transfer or other conditions since that time) are deemed to fall under specified self-issued crypto-assets prescribed in Article 61, paragraph (2), item (i), (b) of the New Corporation Tax Act.

The provisions of Articles 82 and 82-2 of the New Corporation Tax Act apply to corporation tax on the international minimum tax amount prescribed in paragraph (1) of that Article of a domestic corporation for a covered fiscal year beginning on or after the Effective Date.

The provisions of Article 150-3 of the New Corporation Tax Act apply to the specified multinational enterprise group, etc. report items, etc. prescribed in paragraph (1) of that Article for a covered fiscal year beginning on or after the Effective Date.

With regard to the application of penal provisions to acts committed before this Act (or, for the provisions set forth in the items of Article 1 of the Supplementary Provisions, those provisions; hereinafter the same applies in this Article) comes into effect, and to acts committed after this Act comes into effect in the cases where the provisions then in force continue to govern pursuant to the provisions of these Supplementary Provisions and in the cases where provisions remain in force pursuant to the provisions of these Supplementary Provisions, the provisions then in force continue to govern.

Beyond what is provided for in these Supplementary Provisions, transitional measures necessary in connection with the enforcement of this Act are specified by Cabinet Order.

After the promulgation of this Act, with regard to the tax system for securing the stable financial resources necessary for the fundamental reinforcement of Japan's defense capabilities and for the maintenance of the fundamentally reinforced defense capabilities, in order to implement tax measures to secure financial resources for strengthening defense capabilities based on the Outline of the Fiscal 2023 Tax Reform decided by the Cabinet on December 23, 2022, which provided that those measures would be implemented in stages over multiple years toward fiscal 2027, and the Outline of the Fiscal 2024 Tax Reform decided by the Cabinet on December 22, 2023, the government is to conduct the necessary review of the income tax, the corporation tax, and the tobacco tax while taking into account the need to secure financial resources for strengthening defense capabilities in each fiscal year up to fiscal 2027, and is to take the necessary legislative measures at an appropriate time based on the results of that review.