Article 1.　Persons who come under either of the following numbers (or successors thereof) shall be liable to pay capital levy pursuant to the present Law:

Article 2.　No capital levy shall be imposed on such foreigners as may he provided for by Ordinance.

Article 3.　A juridical person as prescribed under Art.1051 of the Civil Code (the juridical person shall hereinafter be called a bequest-trust) which was in existence at the date of investigation shall, for purposes of the present law, be deemed an individual.

Article 4.　An invidual who was domiciled, or resident for one year or more at the date of investigation within the enforcement area of the present Law and who is subject to the Census Registration Law shall be liable to pay capital levy with respect to all property he owned at the date of investigation.

Article 5.　Properties as enumerated below shall be deemed to be located at each following place:

Article 6.　Property entrusted to a trust company at the date of investigation, shall be regarded as owned by the beneficiary of the trusteeship and the present Law shall apply thereto;provided, however, that in respect to a joint-operation-trusteeship the beneficiary at the date of investigation, shall be deemed to own the rights relating to the trusteeship.

Article 7.　With regard to a contract of postal annuity, claim for which did not occur yet, or a life insurance policy, claim for which did not occur yet, by the date of investigation, the contractor of said contract shall be regarded as having all rights relating to said contract and the present Law shall apply thereto;provided, however, that in respect to the case where the beneficiary is the other person than the contractor and the instalment or premium was paid at the expenses of the person other than the contractor or such cases as may be provided for by Ordinance, exceptional provisions may be prescribed by Ordinance.

Article 8.　In case a donation has been contracted and fulfilled between November 15, 1945 and the date of investigation or, an inheritance of household has occurred during the same period with the predecessor reserving a part of property for himself, the property donated or inherited (including liabilities and taxes and public expenditures involved therein;the same goes hereinafter) shall, as prescribed by Ordinance, be deemed to have been owned, at the date of investigation, by the donor or the predecessor and the present Law shall apply thereto.

Article 9.　In case a trustor of a trusteeship has appointed other person than himself to be the beneficiary of the trusteeship and has had the beneficiary actually received a part or whole of the principal or interests of the trusteeship, during the term of time as referred to under par.(1) of the preceding article, the trustor shall be deemed a donor, the beneficiary a donee and the benefits arising out of the trusteeship the amount donation for purposes of the application of pars, (1) and (2) of the preceding article.

Article 10.　No capital levy shall be imposed in respect to properties as enumerated below:

Article 11.　"Joint-operation-trust" within the meaning of the present Law shall mean a monotary trust which has been trusted with trust companies (hercinafter including banks engaged in trust business) and which, while being the trust property of numerous trustors who do not act collectively, is put into Joint operation.

Article 12.　The taxable amount of a person coming under par.(1) or (3) of art.4, shall be the amount of his property (hereinafter excepting the property enumerated under Art 10) at the date of investigation minus his liabilties (including public expenditures, the same goes hereinafter) out-standing at the date of investigation.

Article 13.　The taxable amount of a person coming under par.(2) of Art.4 (excluding a person coming also under par.(3) of the same article;the person shall hereinafter be called a limited taxpayer) shall be the amount of his property located on the date of investigation within the enforcement area of the present Law minus such liabilities as enumerated below which was outstanding on the date of investigation:

Article 14.　The liabilities deductible by virtue of the preceding two articles shall be limted to those which can testify their existence.

Article 15.　The following amounts, on computing the taxable amount, shall be deemed the amount of property existing on the date of investigation:

Article 16.　The following amounts shall he deemed the amounts of liabilities outstanding at the date of investigation, on computing the taxable amount:

Article 17.　In case the fulfilment of a donation which was contracted after November 15, 1945 failed to be made until the date of investigation, the value of liability to donate and the value of title to the donation shall, as prescribed by Ordinance, not be counted as the amount of liabilities on the part of the donor nor the amount of property on the part of the donee on computing the taxable amount of the donor and donee on the date of investigation.

Article 18.　The amount equal to single sum pension, allowances for the bereaved family, relief money or such payments of similar nature as may be prescribed by Ordinance which becomes receivable within 5 years before the date of investigation due to death, injury or illness caused by war or calamities shall, as prescribed by Ordinance, be deducted from the taxable amount of a person who received the money before the date of investigation (or successor thereof) or a person who is entitled, at the date of investigation, to the money;provided, however, the deduction shall not exceed 10,000 yen.

Article 19.　In respect to a war-sufferer or repatriate, 5,000 yen shall be deducted from the taxable amount.

Article 20.　The provisions of the preceding two articles shall not apply in respect to limited taxpayers (excepting those who were domiciled, or resident for one year or more, at the date of investigation within the enforcement area of the present Law).

Article 21.　The deductions by virtue of from Art.18 to the preceding article shall not be given unless the return of par.(1) of Art.37 or par.(1) of Art.38 stating therein minute matters regarding deuctians, is filed by the filing date of par.(1) of Art.37 or pat.(1) or Art.38

Article 22.　No capital levy shall be due in case the taxable amount (hereinafter meaning, with sbecified exceptions, the amount after the deductions in case the deductions by virtue of from Art.18 to the preceding article are allowable) does not exceed 100,000 yen.

Article 23.　Capital levy shall be imposed the following rates on the successive increments of taxable amount.

Article 24.　In resect to the case as referred to Under par.(4) of Art.4, the amount of capital levy tax which the inheritor is to pay shall, as prescribed by Ordinance, be computed by totaling up the same tax imposable, pursuant to the provisions of from Art.5 to the preceding article, on the properly held by the predecessor on the date of investigation and the same tax imposable, pursuant to the same articles, on the property of the inheritor on the date of investigation.

Article 25.　"The value of lands or houses located within the enforcement area of the present Law shall be computed by applying muitipliors (or, in cases as may be prescribed-by Ordinance, Plus thereto Such amounts as prescribed by Ordinance) to the rental value thereof (meaning hereinfater the rental value as prescribed under Art.8 of the land Tax Law or Art.6 of the House Tax Law.

Article 26.　The multipliers as referred to under par.(1) of the preceding article, shall, according to each locality as may be prescribed by Ordinance, be determined no the basis of multiples which the values of the representative lands or houses in the same locality as appraised by the Government taking actual market prices into considerations, are to show, when compared to their rental values.

Article 27.　The Government shall, without being bound by the provisions of par.(1) on (2) of Art.25, apparise the value of such kind of land or houses as enumerated below, pursuant to the provisions as provided for by Ordinance.

Article 28.　The value of superficies (excluding leases) and perpetual leases shall be appraised by applying multipliers as may be prescribed by Ordinance to the value of the land on which such right is set.

Article 29.　The value of deposits, savings, instalment-savings and other credits of similar nature which are put in such banking institutions as may be prescribed by Ordinance shall be appraised at actual amounts or actually paid up instalment thereof on the date of investigation.

Article 30.　Public bonds (excluding foreign currency bonds and loans) shall be appraised at the value of issue;provided that national bonds interest rates of which are not less than 4 per cent and public bonds other than national bonds, interest rates of which are not less than 4.5 per cent shall be appraised with the considerations for the prices of issue, interest rates and the terms of maturity.

Article 31.　The value of a title to regular allowances, claims for which had already occurred on the date of investigation shall be appraised on the following basis:

Article 32.　The value of a title to a postal annuity contract, claim for which did not yet occur by the date of investigation and to a life insurance contract claim for which did not yet occur by the same date shall be appraised by discounting the total premiums as paid in by the same date at the discount rates as may be prescribed by Ordinance.

Article 33.　The appraised of properties, ceiling prices of which have been provided for by the Price Control Ordinace at the date of investigation, shall be determined by Ordinance on the basis of the controlled ceiling prices.

Article 34.　The appraisal of property located outside the enforcement area of the present Law on the date of investigation, and of the property and liabilities as may be prescribed by Ordinance shall be made in accordance with the provisions as may be prescribed by Ordinance, when the appraisal becomes to be deemed feasible judging from circumstances at that time.

Article 35.　Besides the provisions of the articles from Art.25 to the preceding article, the valuation of property at the date of investigation shall be made on the basis of the fair market value at that time the valuation of liabilities deductible from the taxable amount shall be appraised according to actual conditions at that time.

Article 36,　In respect to a taxpayer whose property other than household real properties minus liabilities as referred to under Art.12 or 13 (such shall hereinafter be called general property) is, at the date of investigation, not over 500,000 yen (as to members of a co-living family, the total of general property thereof), the amount of household real property thereof may, notwithstanding the preceding three articles, be computed on the basis of the amount obtainable by applying rations which are to be prescribed by Ordinance, to the amount of general property.

Article 37.　In case the taxable amount (meaning the taxable amount before the deductions of Arts, 18-20) of a person referred to under Art.1 (excluding a person referred to under Art.2) is over 100,000 yen (as to members of a co-living family the total taxable amount thereof) he shall be liable to file, as prescribed by Ordinance, a return with the Government by a date as prescribed by Ordinance (the date shall hereinafter be called the filing date of Art.37) stating therein his taxable amount (meaning the taxable amount after the deductions of Arts.18-20) and other necessary matters.

Article 38.　In case the taxable amount (meaning the taxable amount before the deductions of Arts.18-20) of a person who need not file a return of par.(1) of the preceding article has after the filing date of Art.37, become over 100,000 yen (in respect to members of a co-living family, the total thereof) because of under-mentioned reasons, he (meaning a person referred to under Art.1 and excluding a person who are referred to under Art.2) shall be liable to file a return of par.1) of the preceding article by the date as prescribed by Ordinance (the date shall hereinafter be called the filing date of Art, 38), as prescribed by Ordinance:

Article 39.　In case the taxable amount of a person who filed a return pursuant to par.(1) of Art.37 of par.(1) of the preceding article has increased after the filing date of Art.37 or 38 due to the reasons stated under par.(1) of the preceding article, the person shall, as prescribed by Ordinance, be liable to apply to the Government and revise his return by the date as prescribed by Ordinance (the date shall hereinafter be called the date of revision to return of par.(1) of Art.39).

Article 50.　The capital levy tax as referred to undetr each of the following items shall be paid by the time-limit of each number concerned:

Article 41.　If in the case of par.(4) of Art.4, the inheritance is an inheritance of household due to cause other than the death of the head of the household, the predecessor shall, as prescribed by Ordinance, be jointly liable to pay capital levy which the inheritor is to pay in accordance with the same article.

Article 42.　In the case where the provisions of par.(1) of Art.6 is to apply, the trustor, shall, as prescribed by Ordinance, be jointly liable to pay the capital levy imposed on the benificiary of the trustee-ship in proportion of the value of the trusted property or title relating to the trusteeship to the value of taxable property of the beneficiary.

Article 43.　In the case of par.(1) of Art.8, the donee or inheritor, shall as pescribed by Ordinance, jointly be liable to pay the tax as assessed on the property of donor or predecessor to the extent of the proportion of the property donated or inherited to the taxable property of the donor or predecessor.

Article 44.　In case the property has been transferred, after the date of investigation, due to donation, bequest or contribution, the donee, bequeathee, or a foundation established on the contributed fund, shall, as prescribed by Ordinance, jointly be liable to pay capital levy tax imposed on the donor, successor of the bequeathor, the bequest-trust or the foundation, to the extent of benefits actually received.

Article 45.　A taxpayer may, as prescribed by Ordinance, request the payment prior to maturity of the whole or a part of deposits, savings or others as may be prescribed by Ordinance or decontract or change the contract thereof if necessary for the capital levy payment.

Article 46.　In case the taxable amount declared or revised in the return filed pursuant to par.(1) of Art.37 or par.(1) of Art.38 or the same revised pursuant to par.(1) of Art.39 or par.(3) of the same article are different from the same investigated by the Government, the Government shall, on the basis of its investigation, correct tde taxable amount taking consultation with the Property Investigation Committee;the same shall hold good in respect to the case where the taxable amount revised pursuant to par.(4) or (5) of the same article is different from the same investigated by the Government.

Article 47.　The Government shall exclude from the scope of correction or determination of the preceding article the values of such properties or liabilities as prescribed under par.(3) of Art.37 to be excluded from the computation of taxable amount pending the final determination thereof becomes feasible pursuant to the Ordinance to be issued on the basis of Art.34.

Article 48.　In case a person who filed his return pursuant to par.(1) of Art.37 or par.(1) of Art.38, or a person who revised his return or taxable amount pursuant to par.(1) or (3) or (5) of Art.39 has found an overdeclaration of his taxable amount, he may request to the Government the correction thereof within a month after the filing date of Art.37, ro 38, or after the date of revision of return of par.(1) of Art.39 or after the revision of return or taxable amount as made pursuant to par.(3) or (4) or (5) of Art.39.

Article 49.　The Government when corrected or determined the taxable amount in accordance with Art.46, shall notify the same to the taxpayer.

Article 50.　When the Government has corrected or determined the taxable amount in accordance with Art.46 the Government shall request the taxpayer to pay the determined or additional payment due to the correction or determination (shall hereinafter be called the additional payment) within the time limit of a month after notification of par.(1) of the preceding paragraph has been issued provided, that in respect of the case as referred to in par.(4) of Art.46, the additional payment shall be requested at once.

Article 51.　In case a taxpayer has an objection in respect to the corrected or determined taxable amount as notified by the Government in accordance with par.(1) of Art.49 or to the tax amount as notified by the Government in accordance with par.(1) of Art.67, he may request re-investigation to the Government stating the reason for his dissatisfaction within a month from the date on which he received the notification.

Article 52.　In case a request is made by virtue of par.(1) of the preceding article (including the same paragraph as applied by virtue of par.(2) of the same article) the objection shall be settled by the Government taking consultation with the Property Re-investigation Committee and the settlement shall be notified to the taxpayer.

Article 53.　In case the request has been made pursuant to par.(1) of Art.51 (including the same article as applied by virtue of par.(2) of the same article) in which the taxpayer has put an objection to the appraisal of his property by the Government, the Government may, as prescribed by Ordinance, direct the taxpayer to sell the preperty concerned or a part thereof to the Government at the price which the taxpayer appraised on making the request of re-investigation.

Article 54.　A person who has an objection to the settlement made pursuant to Art.52, may make petition to the Government or appeal to the Administrative Litigation Court.

Article 55.　In case a property which is deemed to correspond to such deposit, saving or other credits prescribed by Ordinance as belongs to the old account of a banking institution by virtue of the provisions of the Emergency Accounting Measures of Financial institutions Law (such deposit etc. shall hereinafter be called the old restricted account, and such property shall hereinafter be called the old-account-property) was included in the property on the date of investigation, the taxpayer may apply to time Government and pay the difference between the total capital levy tax he is to pay and the capital levy tax computed by eliminating the value of the old-account-property from the total taxable amount, in the form of the old blocked account.

Article 56.　Besides the provisions of the preceding article, a taxpayer may request the payment in kind (hereinafter excepting the payment in the form of old restricted accounts) in respect to the amount of the tax which is difficult to be paid in cash.

Article 57.　In case there are special reasons for rendering the payment in kind difficult in the case of par.(1) of the preceding article, a taxpayer may, an presenting proper mortgages, request the delayed payment only to the extent of the amount of tax of which the payment in kind is difficult.

Article 58.　The Government on receiving the request to pay capital levy in old restricted accounts or in kind or in delay, may, if it dooms necessary postpone the collection of the tax concerned.

Article 59.　In case an overpayment is found in the capital levy tax which has been paid pursuant to par.(1) of Art.55, par.(2) of the same article or par.(1) or (2) of Art.56, the refundment shall be made pursuant to the provisions as prescribed by Ordinance.

Article 60.　In case a taxpayer is acknowledged by the Government to be scarcely able to pay the tax because of natural calamities, the Government may abate or exempt his capital levy tax in accordance with the provisions as prescribed by Ordinance.

Article 61.　In the case where old restricted accounts of a taxpayer correcponding to the oldaccount-property or a part thereof has proved void on the final disposal of the old account of a banking institution made pursuant to the Reconstruction and Reorganization of Banking Institutions Law, the disposal relating to the taxation of capital levy thereon shall be made in accordance with the provision provided for by Imperial Ordinance.

Article 62.　The Government shall publicize, within four months after the filing date of Art.37 or 38, the name, taxable amount, tax amount and matters relating to the property tand liabilities as declared to the Government, of a taxpayer whose return as filed pursuant to par.(1) of Art.37 or par.(1) of Art.38 declares his taxable amount to be over 500,000 yen.

Article 63.　Any person may, As prescribed by Ordinance, request the Government to inspect returns filed by taxpayers and documents regarding correction, determination or revision of taxable amounts.

Article 64.　In case an information given to the Government of the fact that a person deemed liable to pay the tax had filed to file his return or of the suspect orf an omission in the taxable amount thereof has led the Government to the determination or correction of the taxable amount thereof, the Government may, as prescribed by Ordinace, give the informer an amount not exceeding 25 per cent of the tax recovered by the correction of determination as a reward;provided the maximum of the reward shall not exceed 100,000 yen.

Article 65.　A taxpayer shall, as prescribed by Ordinance, pay an amount of tax additional to the capital levy tax referred to under item 2 or 5 of par.(1) of Art.40, which is computed, according to the term of time elapsed, by multiplying the amount of said capital levy tax at the rate of 10 per cent per annum.(2)

Article 66.　Excepting cases where there were good reasons for the failure to file a return by the filing date or to revise a return or taxable amount by the date of revision of return for or the fact that the returned taxable amount was at variance with the same investigated by the Goverment, the Government, when the capital levy referred to under item 2 or 5 of par.(1) of Art.40 has been Paid or the additional tax of Art.50 is to be collected, shall, as prescribed by Ordinance, collet, according to the term of time elapsed, an additional payment in the form of capital levy tax, which is to be computed by multipiying the tax concerned at the rate of 6 per cent for each month elapsed;provided, the maximum thereof shall be 50 per cent of the tax amount concerned.

Article 67.　The Government, when determined the tax amount to be additionally collected pursuant to par.(1) of the preceding arrtcle shall notify the same to the taxpayer.

Article 68.　A juridical person, other than jointstock-corporations who does not issue shares of stock shall be liable to submit with the Government, as prescribed by Ordinance, a return listing therein the amount of equity for each owner outstanding on the date of investigation.

Article 69.　A juridical person who is subject to corporation tax or special corporation tax, shall, as prescribed by Ordinance, be liable to submit with the Government a minute descriptions of its asset and liabilities current at the date as may be prescribed by Ordinance and papers stating therein matters necessary for the valuation of shares and other equity.

Article 70.　Taxation officials may, when necessary for the purpose of investigation or collection of capital levy, ask questions to the persons as enumerated below or inspect their property or books, papers or other things relating thereto:

Article 71.　Taxation officials, when necessary for the purpose of investigation and collection of capital levy, may inspect the original text of a deed made by a notary, its subsidiary documents, or books and documents made by a notary in accordance with the provisions of laws or ordinances, or may ask questions about the contents of those paper.

Article 72.　The place of payment of capital levy shall be the domicile of a taxpayer or in respect to a taxpayer who does not have domicile within the encorcement area of the present Law his residence;provided, that a taxpayer may pay his tax at his residence when the request to the effect is made to the Government.

Article 73.　A taxpayer who is not living at the place of payment, shall appoint a taxpayment agent who, living at the place of payment, takes charge of the filing of return and every other necessary matter of capital levy on behalf of him, and inform the Government of the appointment;the same shall hold good in respect to the case where a taxpayer is going to discontinue to have domicile and residence within the enforcement area of the present Law.

Article 74.　In case disposals or accountings of a family-corporation made after November 15, 1945, are deemed to have been done with an aim to reduce taxable amount of capital levy imposable on shareholders or partners thereof or of relatives or employees of these persons, the Govenment may,, on conducting the correction or determination of the taxable amount, compute the taxable amount of these persoons on the basis of its own investigation, notwithstanding said disposals or accountings.

Article 75.　Prefectures, cities, towns, villages and other public bodies shall not impose the surtax of the capital levy.

Article 76.　A person who has evaded capital levy by an act of fraud or other unjust means shall be sentenced to penal servitude not exceeding 3 years or a fined or forfeit not exceeding three times of the tax evaded.

Article 77.　A person who comes under any of the following item shall be imprisoned not exceed- The one year or fined not exceeding 10,000 yen:

Article 78.　In case a person who is or was engaged in investigation, appraisal or re-investigation of the capital levy has divulged or plagiarized secrets as acquired relating to the investigation, appraisal or re-investigation, he shall be imprisoned not exceeding 2 years or fined not exceeding 20,000 yen.

Article 79.　In case a representative of a juridical person, a deputy, employee or member of a Juridical person or of an individual, has committed a violation as referred to under Art. 76 or item 1 or item (3)-(5) of Art. 77, the person who actually committed shall be punished and the Juridical person or the individual shall also be fined in accordance with the provisions of the articles concerned.

Article 80.　A person who, regarding the capital levy of other persons, has given to the Government a false information on the matters referred to under Art. 64- shall be imprisoned not exceeding three years or fined not exceeding 10, 000 yen.

Article 81.　In respect to a person who has committed the violation as prescribed under par. 1 of Art. 76, the proviso of par 3 of Art. 38, par. 2 of Art. 39, Arts, 40 and 41, par, 2 of Art. 48 and Arts, 63 and 66 of the Penal Code shall not apply; provided, however, that this shall not hold good in respect of the case where imprisonment is to be imposed.

Article 82.　Similar provisions to the present Law which are necessary for the taxation of capital levy on the property of the Imperial House- hold shall be provided for by the Imperial Household Ordinance,