Article 47Application for Continuing Tax-Exempt Savings on Inheritance

①Where, among the heirs prescribed in paragraph (1) of the preceding Article, there is a person who is a Person with a Disability or other eligible person who can submit an application to exempt savings from taxation, for deposits and similar savings of the same type as the deposits and similar savings prescribed in paragraph (1) of the preceding Article, to the business office of the financial institution or other such place that accepts or undertakes the deposits and similar savings prescribed in paragraph (1) of the preceding Article, if that person submits to that business office of the financial institution or other such place, by the payment date prescribed in paragraph (1) of the preceding Article, a document stating that the person wishes to continue to receive the application of the provisions of Article 10, paragraph (1) (Nontaxability of Interest Income from Small Amounts of Deposits Held by Persons with Disabilities and Other Eligible Persons) of the Act with respect to the deposits and similar savings pertaining to the decedent that the person acquired by inheritance and to which those provisions apply, the amount of the deposits and similar savings for which the person wishes to receive that application (where those deposits and similar savings are Securities, their face value or equivalent amount), that the person is a Person with a Disability or other eligible person, and other matters specified by Ministry of Finance Order (hereinafter referred to as an "application for continuing tax-exempt savings on inheritance" in this Section), then, in the application of Article 10, paragraph (1) of the Act and the provisions of this Section, the person is deemed to have submitted an application to exempt savings from taxation and placed deposits and similar savings in an amount equivalent to that amount on the day on which the person submitted that application for continuing tax-exempt savings on inheritance at that business office of the financial institution or other such place.

②A person who submits an application for continuing tax-exempt savings on inheritance must, at the time of submission, present to the head of the business office of the financial institution or other such place referred to in the preceding paragraph the documents prescribed in Article 10, paragraph (2) of the Act pertaining to that person.

③The provisions of Article 34, paragraph (3) (Required Particulars and Submission of Application to Exempt Savings from Taxation) and Article 41-2, paragraph (5) (Scope, etc. of Documents Certifying Status as a Person with a Disability or Other Eligible Person) apply mutatis mutandis to the acceptance of an application for continuing tax-exempt savings on inheritance.