Supplementary Provisions, Article 10Transitional Measures regarding Method of Valuation of Inventory Assets
第十条(たな卸資産の評価の方法に関する経過措置)
The provisions of Article 99, paragraph (1), item (ii) (Method of Valuation of Inventory Assets) of the New Order apply to income tax for 2008 and subsequent years, and the provisions then in force continue to govern income tax for 2007 and earlier years.
新令第九十九条第一項第二号(たな卸資産の評価の方法)の規定は、平成二十年分以後の所得税について適用し、平成十九年分以前の所得税については、なお従前の例による。
In the case where an individual who has selected the lower of cost or market method prescribed in Article 99, paragraph (1), item (ii) (Method of Valuation of Inventory Assets) of the Former Order for inventory assets held on December 31, 2007 holds, on December 31, 2008 (if that individual dies or has an Absence From Japan in the middle of the year, at the time of the death or Absence From Japan; the same applies hereinafter in this paragraph), inventory assets belonging to the same type of business and category of assets as the type of business and category of assets for which that selection was made (meaning the type of business and category of assets prescribed in Article 100, paragraph (1) (Selection of Method of Valuation of Inventory Assets) of the New Order; the same applies hereinafter in this paragraph), and that individual has not selected the cost method prescribed in Article 99, paragraph (1), item (i) of the New Order for those inventory assets (limited to those for which the price ordinarily required for their acquisition on December 31, 2008 (hereinafter in this paragraph referred to as the "replacement cost") is less than the value assessed by the cost method prescribed in item (ii) of that paragraph), the individual may apply that Article treating that replacement cost as the value on December 31 of that year prescribed in item (ii) of that paragraph.
平成十九年十二月三十一日において有するたな卸資産について旧令第九十九条第一項第二号(たな卸資産の評価の方法)に規定する低価法を選定している個人が、平成二十年十二月三十一日(当該個人が年の中途において死亡し、又は出国をした場合には、その死亡又は出国の時。以下この項において同じ。)においてその選定に係る事業の種類及び資産の区分(新令第百条第一項(たな卸資産の評価の方法の選定)に規定する事業の種類及び資産の区分をいう。以下この項において同じ。)と同一の事業の種類及び資産の区分に属するたな卸資産を有する場合において、当該個人が当該たな卸資産(平成二十年十二月三十一日におけるその取得のために通常要する価額(以下この項において「再調達原価」という。)が新令第九十九条第一項第二号に規定する原価法により評価した価額に満たないものに限る。)につき新令第九十九条第一項第一号に規定する原価法を選定していないときは、当該再調達原価を同項第二号に規定するその年十二月三十一日における価額として、同条の規定を適用することができる。
New Ordermachine translation
「新令」
This Cabinet Order as amended by Cabinet Order No. 82 of 2007.
Short name set inSupplementary Provisions, Article 2, paragraph (1)
Former Ordermachine translation
「旧令」
This Cabinet Order as it stood before Cabinet Order No. 82 of 2007 amended it.
Short name set inSupplementary Provisions, Article 2, paragraph (1)
type of business and category of assetsmachine translation
「事業の種類及び資産の区分」
The type of business and category of assets for which a method of valuing inventory is chosen, as defined in Article 100, paragraph (1) of the Order for Enforcement of the Income Tax Act as Cabinet Order No. 82 of 2007 left it.
Defined inSupplementary Provisions, Article 10, paragraph (2)· applies only in this paragraph
replacement costmachine translation
「再調達原価」
The price that would ordinarily have had to be paid on 31 December 2008 to acquire an item of inventory, which an individual who had chosen the lower-of-cost-or-market method may take as its year-end value where it is below the value under the cost method.
Short name set inSupplementary Provisions, Article 10, paragraph (2)· applies only in this paragraph