Article 60Settlement of Accounts

①A blue-return filer (in the case where the provisions of Article 125, paragraphs (1) through (3) (Filing a Tax Return If the Taxpayer Has Died Partway Through the Year) of the Act apply, a person who is to file a return under paragraph (1) of that Article or a person who may file a return under paragraph (2) or (3) of that Article) must, on December 31 of each year (in the case where that Article or Article 127 (Filing a Tax Return If the Taxpayer Will Become Absent From Japan Partway Through the Year) of the Act applies, the date of the blue-return filer's death or the time of the start of the blue-return filer's Absence From Japan; the same applies in the following Article), take stock of Inventory and otherwise organize the matters necessary for the settlement of accounts, and clearly record the results.

②A person who has newly become a blue-return filer in that year must, on January 1 of that year (in the case where the person has newly commenced, partway through the year, operations that are to give rise to real property income, business income or timber income, the date on which the person commenced those operations), take stock of Inventory (including Securities that give rise to business income and cryptoassets prescribed in Article 48-2, paragraph (1) (Calculation of Costs of Cryptoassets Transferred and Valuation Methods) of the Act; the same applies hereinafter in this Article) and organize the necessary matters concerning the various account titles, and clearly record the results.

③When taking stock as prescribed in the preceding two paragraphs, a blue-return filer must prepare an inventory list and enter the quantity, unit price and amount for each different type, quality, model, etc. of Inventory. In this case, the unit price to be assigned to Inventory is to be entered as the value calculated by the method, from among the following, that the blue-return filer has selected: the valuation method prescribed in Article 99, paragraph (1) (Valuation Methods for Inventory) of the Order or the valuation method approved by the district director pursuant to Article 99-2 (Special Valuation Methods for Inventory) of the Order, the valuation method prescribed in Article 105, paragraph (1) (Valuation Methods for Securities) of the Order, or the valuation method prescribed in Article 119-2, paragraph (1) (Valuation Methods for Cryptoassets) of the Order (in the case where the approval of the district director has been obtained for a change of valuation method pursuant to Article 101 (Procedures for Changing the Valuation Method for Inventory), Article 107 (Procedures for Changing the Valuation Method for Securities) or Article 119-4 (Procedures for Changing the Valuation Method for Cryptoassets) of the Order, the method for which that approval was obtained, and for a blue-return filer to whom Article 102, paragraph (1) (Statutory Valuation Method for Inventory), Article 108, paragraph (1) (Statutory Valuation Method for Securities) or Article 119-5, paragraph (1) (Statutory Valuation Method for Cryptoassets) of the Order applies, the method determined under those provisions as the one that person is to use).