# 租税特別措置法 / Act on Special Measures Concerning Taxation — 第四十八条 (Supplementary Provisions, Article 48) - Law: 租税特別措置法 (Act on Special Measures Concerning Taxation), 昭和三十二年法律第二十六号 - English title "Act on Special Measures Concerning Taxation": Ministry of Justice translation - Kind: Act — the distinction between 法律 (Act), 政令 (Cabinet Order), 省令 (Ministerial Order) and 条例 (local ordinance) decides who may issue it and what it may say. - Provision: 第四十八条 (Supplementary Provisions, Article 48)（特定中小会社が発行した株式に係る譲渡所得等の課税の特例に関する経過措置） — address `suppl-4201-23/art-48` - Text in force since: 2026-10-01 - URL (the page that opens at this provision): https://japanlaw.org/en/special-taxation-measures-act/suppl-4201-23/art-48 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/332AC0000000026/suppl-4201-23/art-48 - Every provision below carries its address and both URLs on the line under it. - Japanese text: e-Gov 法令検索, Digital Agency (デジタル庁). English: as marked on each line below. Only the Japanese as published by the government has legal effect; the text below is a copy of it. Every English rendering below is a translation and says which kind: the Ministry of Justice's translation, or this site's machine translation, whose model and date the Sources list names. They are never merged and never substituted for one another. --- ### 第四十八条（特定中小会社が発行した株式に係る譲渡所得等の課税の特例に関する経過措置） — Transitional Measures Concerning Special Provisions on Taxation on Capital Gains, etc. from Shares Issued by Specified Small and Medium Sized Companies caption: machine translation, not official suppl-4201-23/art-48 · https://japanlaw.org/en/special-taxation-measures-act/suppl-4201-23/art-48 · https://japanlaw.org/l/332AC0000000026/suppl-4201-23/art-48 **第一項** 施行日前に旧租税特別措置法第三十七条の十三の三第一項の居住者又は国内に恒久的施設を有する非居住者が同項に規定する払込みにより同項に規定する取得をした同項に規定する特定中小会社の特定株式（同項に規定する特定株式をいう。）については、同条の規定は、なおその効力を有する。この場合において、同項中「平成二十一年三月三十一日」とあるのは「所得税法等の一部を改正する法律（平成二十年法律第二十三号）の施行の日の前日」と、「第三十七条の十第一項」とあるのは「所得税法等の一部を改正する法律（平成二十五年法律第五号）第八条の規定による改正後の租税特別措置法（以下「平成二十五年新法」という。）第三十七条の十第一項又は第三十七条の十一第一項」と、「同項に規定する株式等に係る譲渡所得等の金額」とあるのは「平成二十五年新法第三十七条の十第一項に規定する一般株式等に係る譲渡所得等の金額（以下この項において「一般株式等に係る譲渡所得等の金額」という。）又は平成二十五年新法第三十七条の十一第一項に規定する上場株式等に係る譲渡所得等の金額（以下この項において「上場株式等に係る譲渡所得等の金額」という。）」と、「当該株式等に係る譲渡所得等の金額」とあるのは「一般株式等に係る譲渡所得等の金額又は上場株式等に係る譲渡所得等の金額」と、「第三十七条の十一第一項第一号に規定する金融商品取引業者」とあるのは「同法第二条第九項に規定する金融商品取引業者（同法第二十八条第一項に規定する第一種金融商品取引業を行う者に限る。）」とする。 suppl-4201-23/art-48/par-1 · https://japanlaw.org/en/special-taxation-measures-act/suppl-4201-23/art-48/par-1 · https://japanlaw.org/l/332AC0000000026/suppl-4201-23/art-48/par-1 With regard to the specified shares (meaning the specified shares prescribed in that paragraph) of a specified small and medium sized company prescribed in Article 37-13-3, paragraph (1) of the Former Act on Special Measures Concerning Taxation, for which the resident or nonresident who has a permanent establishment in Japan referred to in that paragraph made an acquisition prescribed in that paragraph through a payment prescribed in that paragraph before the Effective Date, the provisions of that Article remain in force. In this case, the phrase "March 31, 2009" in that paragraph is deemed to be replaced with "the day before the date on which the Act Partially Amending the Income Tax Act, etc. (Act No. 23 of 2008) comes into effect"; the phrase "Article 37-10, paragraph (1)" is deemed to be replaced with "Article 37-10, paragraph (1) or Article 37-11, paragraph (1) of the Act on Special Measures Concerning Taxation as amended by the provisions of Article 8 of the Act Partially Amending the Income Tax Act, etc. (Act No. 5 of 2013) (hereinafter referred to as "the 2013 New Act")"; the phrase "the amount of capital gains, etc. on shares, etc. prescribed in that paragraph" is deemed to be replaced with "the amount of capital gains, etc. on general shares, etc. prescribed in Article 37-10, paragraph (1) of the 2013 New Act (hereinafter referred to in this paragraph as the "amount of capital gains, etc. on general shares, etc.") or the amount of capital gains, etc. on listed shares, etc. prescribed in Article 37-11, paragraph (1) of the 2013 New Act (hereinafter referred to in this paragraph as the "amount of capital gains, etc. on listed shares, etc.")"; the phrase "that amount of capital gains, etc. on shares, etc." is deemed to be replaced with "the amount of capital gains, etc. on general shares, etc. or the amount of capital gains, etc. on listed shares, etc."; and the phrase "financial instruments business operator prescribed in Article 37-11, paragraph (1), item (i)" is deemed to be replaced with "financial instruments business operator prescribed in Article 2, paragraph (9) of that Act (limited to a person engaged in Type I Financial Instruments Business prescribed in Article 28, paragraph (1) of that Act)". machine translation, not official --- ## Sources - e-Gov 法令検索, Digital Agency (デジタル庁) — 租税特別措置法 — the text in force from 2026-10-01 (https://laws.e-gov.go.jp/law/332AC0000000026/20261001_508AC0000000012), retrieved 2026-10-07 - Japanese Law Translation Database System, Ministry of Justice (法務省) — Act on Special Measures Concerning Taxation — Ministry of Justice translation (https://www.japaneselawtranslation.go.jp/en/laws/view/3132/tb), retrieved 2026-10-07 - claude-opus-5-5 — Machine translation, batch special-taxation-measures-act-20261007T211206-484, translated 2026-10-08 - This site's parser, version 165 — 租税特別措置法 — structure, counts, cross-references and defined terms, computed 2026-10-07