Chapter I. General Provisions

Article 1. The foreigners as referred to in Art. 2 of the Capital Levy Law (hereinafter called the Law) shall be persons who at the time of enforcement of the Law have their nationality in countries enumerated below (excluding persons who have Japanese nationality): Australia, Belgium, Bolivia, Brazil, Canada, Chile, China, Columbia, Costa Rica, Cuba, Czechoslovakia, Denmark, Dominican Republic, Ecuador, Egypt, El Salvador, Ethiopia, France, United Kingdom of Great Britain and Northern Ireland, Greece, Guatemala, Haiti, Honduras, Iceland, India, Iran, Iraq, the Lebanon, Liberia, Grand Duchy of Luxemburg, Mexico, the Netherlands, New Zealand, Nicaragua, Norway, Panama, Paraguay, Peru, the Philippines, Poland, Salvador, Saudi Arabia, Syria, Turkey, Union of South Africa, Union of Soviet Socialist Republics, United States of America, Uruguay, Venezuela, Yugoslavia.

Article 2. In case, with respect to a juridical person as prescribed under Art. 1051 of the Civil Code (hereinafter called a bequest-trust) which was in existence on the date of investigation, an inheritor has been found to exist or the inherited property has been decided to revert to the State by the date of filing the return as prescribed in par. 1, Art. 37 of the Law (hereinafter called the filing date of Art. 37 of the Law), or by the date of filing the return as prescribed in par. 1, Art. 38 of the Law (hereinafter called the filing date of Art. 38 of the Law), the provision of par. 1, Art. 3 of the Law shall not be applied in regard to the bequest-trust concerned. In case, with respect to the bequest-trust as prescribed in par. 1, Art. 3 of the Law (excepting the bequest-trust provided for in the preceding paragraph; the same goes hereinafter), the predecessor was subject to the Census Registration Law immediately before inheritance occurred, the bequest-trust concerned shall be deemed an individual subject to the Census Registration Law. In case, with respect to the bequest-trust as prescribed in par. 1, Art. 3 of the Law, the predecessor was domiciled, or resident for one year or more within the enforcement area of the Law immediately before inheritance occurred, the bequest-trust concerned shall be deemed to have been domiciled or resident for one year or more at the date of investigation within the enforcement area of the Law. In case with respect to the bequest-trust as prescribed in par. 1, Art. 3 of the Law, the administrator of inherited property appointed pursuant to the provision of Art. 1052 of the Civil Code has his domicile (in case he has no domicile, his residence) within the enforcement area of the Law, the locality where the administrator has his domicile (in case he has no domicile within the enforcement area of the Law, the locality where he has his residence) shall be deemed the place of tax payment of the bequest-trust concerned, and the said administrator shall be regarded as the tax-payment agent to take charge of the filing of return, payment of tax and every other necessary matter regarding capital levy on behalf of the bequesttrust. In case, with respect to the bequest-trust as prescribed in par. 1, Art. 3 of the Law, the administrator of inherited property has no domicile or residence within the enforcement area of the Law, the said administrator shall determine the place of tax payment pursuant to the provision of par. 2, Art. 72 of the Law, appoint a tax-paymnt agent from among persons living in the place of payment pursuant to the provision of Art. 73 of the Law, and report the determination and appointment to the Government. In case, with respect to the bequest-trust as prescribed in par. 1, Art. 3 of the Law, an inheritor has been found to exist after the filing date of Art. 37 of the Law or after the filing date of Art. 38 of the Law, the amount of capital levy impossible on the bequest-trust concerned pursuant to pars. 1, 2 and 3, Art. 3 of the Law shall be deemed the amount of capital levy impossible on the inheritor with respect to the inherited property concerned.

Article 3. The provisions of pars. 4 and 5 of the preceding Article shall apply to the case where capital levy is to be imposed on a bequest-trust pursuant to the provision of par. 4, Article 4 of the Law.

Article 4. The deposits, savings, instalment-savings or trust-money in baking institutions as referred to in item 4, par. 1, Art. 5 of the Law shall be those enumerated below. 1. Deposits, savings, or instalment-savings in banks or mujin (mutual loan) companies. 2. Savings or instalment-savings in city, town, or village agricultural associations, credit associations, or urban area credit associations. 3. Savings or instalment-savings in salt industry associations, industrial associations, commercial associations, control associations, foreign trade associations, fishery cooperative associations, fishery associations, manufacturers' associations, automobile transportation associations, federation of salt industry associations, federation of industrial associations, federation of commercial associations, federation of foreign trade associations, federation of automobile transportation associations, Tokyo Metropolis, Hokkaido, or prefectural agricultural associations, Hokkaido, or prefectural marine products industry associations, Central Bank for Agriculture and Forestry Central Bank for Commercial and Industrjai Associations, or People's Bank. 4. Trust-money in Pension Bank.

Article 5. In cases coming under either of the following numbers, with regard to a postal annuity contract, claim for which did not occur yet or a life insurance contract, claim for which did not occur yet, by the date of investigation, the person mentioned in each number concerned shall, as provided for in the proviso of Art. 7 of the Law, be regarded as having all rights relating to the said contract. 1. In case the beneficiary is a person other than the contractor and all instalments or premiums were actually paid by that person other than the contractor,-the person who paid the instalments or premiums. 2. Besides those mentioned in the preceding paragraph, in case an employer is the contractor with an employee as beneficiary of annuity and restitution, or as insured person and beneficiary of insurance; in case an employer is the contractor with an employee as beneficiary of annuity or insured person, and a member of the said employee's family as beneficiary of restitution or beneficiary of insurance; and in case an employer is the contractor with an employee as beneficiary of annuity or insured person with an agreement that upon retirement of the said employee the rights and obligations of the contractor shall be taken over by the employee without compensation, the employee.

Article 6. In case, when a contract for donations was made and fulfilled between November 15, 1945 and the date of investigation or inheritance of household took place during the same period with the predecessor reserving a part of property for himself, the donation or inheritance comes under any of the following items, the value of donated property or inherited property shall be the value of the property donated or inherited minus the amount mentioned in each item concerned. 1. In case the donation is with obligations,-the amount of liabilities to be borne. 2. In case liabilities (including taxes and other public expenditures; the same goes hereinafter) were inherited,-the amount of liabilities concerned. 3. In case inheritance tax is imposed on donated property or inherited property,-the amount equivalent to the amount of the inheritance tax. In the case of the preceding paragraph, the amount of liabilities mentioned in the said paragraph shall not, in computing the taxable amount, be counted as liabilities on the part of the donee or inheritor.

Article 7. The public bodies as referred to in par. 2, Art. 8 of the Law (including said paragraph applied by virtue of par. 2, Art. 17 of the Law) shall be Tokyo Metropolis, Hokkaido, and prefectures; cities, towns and villages; metropolitan and prefectural associations, Hokkaido and prefectural associations, prefectural associations; Metropolitan, city, town and village associations; city, town and village associations, town and village associations; wards in Tokyo Metropolis, wards in cities, towns and villages; corporations similar to towns and villages in places where the ordinance regulating town and village organization is not in force; irrigation associations, federation of irrigation associations; rice-field readjustment associations, federation of rice-field readjustment associations; and Hokkaido Public Works Association. With regard to donation to a religious juridical person, and a city or town block association, a village section association, a federation of such associations, the provisions of par. 1, Art. 8 of the Law (including the provisions of par. 1, Art. 17 of the Law) shall not be applied pursuant to the provision of par. 2, Art. 8 of the Law (including cases where application is namade as prescribed in par. 2, Art. 7 of the Law).

Article 8. The annuities as referred to in number 5, Art. 10 of the Law shall be the additional pension injury and disease annuity and other annuities of similar nature granted due to death, injury or disease caused by war or natural calamity (in case the annuities concerned are of a similar nature to ordinary pension and additional pension, those corresponding to ordinary pension shall be excluded).

Article 9. The properties as referred to in number 6, Art. 10 of the Law shall be those enumerated below: 1. Deposits and savings not exceeding 50 yen in amount per each contract on the date of investigation, rights relating to life insurance contracts with insured money not exceeding 1,000 yen per each contract (excepting cases where premiums were paid in a lump sum), and other properties of a similar nature designated by the Minister of Finance. 2. An amount paid pursuant to Art. 2, par. 2 of the Bank of Japan notes Deposit Ordinance, which is to be designated by the Minister of Finance. 3. Besides those mentioned in numbers 4 and 5, Art. 10 of the Law, pensions and other annuities of similar nature not exceeding 500 yen in annual amount.

Article 10. In case on the date of investigation the head of a family or its member or members were living together temporarily for such reasons as evacuation, war calamity, or repatriation from outside the enforcement area of the Law, the said head of a family or the said member or members of the family shall, according to the previous conditions, be deemed to have been living together at the date of investigation. In case on the date of investigation the head of a family or its member or members were living apart temporarily for such reasons as evacuation, war calamity, or repatriation from outside the enforcement area of the Law, the said head of a family or the said member or members of the family shall, according to the previous conditions, be deemed to have been living together at the date of investigation.

Chapter II. Taxable Amount

Article 11. In case the amount of liabilities as owned by a member of a co-living family (meaning the co-living family as provided for in Art. 11 of the Law; the same shall apply hereinafter) exceeds the amount of his property (excluding the property as referred to in Art. 10 of the Law; the same shall apply hereinafter), the amount of deduction and the member or members of the co-living family from whose amount of property the deduction is to be made as prescribed in par. 2, Art. 12 of the Law shall be decided in accordance with the return filed as prescribed in Art. 32; provided that in case the revision or determination of taxable amount is to be made this shall be determined by the Minister of Finance. The provisions of the preceding paragraph shall apply in respect of the case of par. 2, Art. 13 of the Law.

Article 12. The amount of tax to be excluded from the amount of war indemnity special tax as prescribed in item 2, par. 1, Art. 16 of the Law shall be the amount of war indemnity special tax which, in case land or buildings (including fixtures thereon), or mining rights or placer rights were transferred to the original owner or original holder pursuant to the provision of Art. 60 of the War Indemnity Special Measures Law, was imposed on the claim for the counter-value of transferrence or expropriation of the said land or buildings, or the said mining rights or placer rights.

Article 13. In case a contract of donation which was made after November 15, 1946 failed to be fulfilled by the date of investigation, the value of liability for the donation and the value of claim to the donation shall, in computing the taxable amount, not be counted in the amount of liabilities or value of property on the part of the donor or donee at the date of investigation; provided that in cases coming under either of the following numbers this provisions shall not apply with respect to the portion equivalent to the amount mentioned in each number concerned. 1. In the case of donation with obligation, -the amount of liabilities to be borne. 2. In case inheritance tax is imposed with respect to the donation,-the amount equivalent to the inheritance tax imposed.

Article 14. The amount equal to a single-sum pension, allowance to the bereaved family, relief-money, or other allowance of a similar nature other than those mentioned below (in case the single-sum pension, allowance to the bereaved family, relief-money or other allowances of a similar nature include undermentioned allowances or allowances ordinarily payable on death not caused by war or natural calamity, or on retirement, that portion shall be excluded), which became receivable within five years before the date of investigation due to death, injury, or disease caused by war or natural calamity shall be deducted from the taxable amount of the person who received the money before the date of investigation or the person who was entitled to the money at the date of investigation; provided that the deduction shall not exceed 10,000 yen. 1. Funeral expenses, medical expenses and other allowances given in respect of death, injury, or disease by way of paying the actual expenses. 2. Allowances corresponding to salary or wages during illness and recuperation.

Article 15. The provision of par. 1, Art. 11 shall apply in respect of the case of par. 1, Art. 19 of the Law. In this case, "the return filed as prescribed in Art. 32" in par. 1, Art. 11 shall read "the minute descriptions filed as prescribed in Art. 33."

Article 16. In accordance with the provision of par. 3, Art. 19 of the Law, the war-sufferer and repatriate shall be defined as follows: 1. The war-sufferer shall be a person who suffered loss due to destruction or damage of his dwelling-house (in the case of a dweller on the water, including the boat he lives in) or property caused directly or indirectly by a calamity arising from fighting during a war, and holds a war-sufferer's certificate or a document of similar nature as designated by the Minister of Finance. 2. The repatriate shall be a person who repatriated from cutside the enforcement area of the Law after August 15, 1945, and holds a certificate issued by the Director of Repatriates Protection Bureau or a prefectural governor; provided that persons designated by the Minister of Finance shall be excluded.

Article 17. If, in the case of Art. 24 of the Law, the predecessor, with respect to the computation of taxable amount of property owned by him, comes under the provision of par. 1 or 3, Art. 4 of the Law, the provision of Art. 12 of the Law shall be applied; if he comes under the provision of par. 2, Art. 4 of the Law (excluding those coming under the provision of par. 3, Art. 4), the provision of Art. 13 of the Law shall be applied. In case there are two or more inheritors, the amount of capital levy tax payable pursuant to Art. 24, of the Law by each inheritor on the property owned by the predecessor at the date of investigation shall be computed by dividing the amount of capital levy tax on the property owned by the predecessor at the date of investigation in proportion to the ratio of the value of benefits derived by each inheritor.

Chapter III. Valuation of Property

Article 18. The value of farm-land as provided for in Art. 2 of the Law pertaining to Special Measures for Creation of Small Holdings (hereinafter called the farm-land) shall be the amount which is computed, pursuant to par. 1, Art. 25 of the Law, by applying multipliers (meaning the multipliers referred to in par. 1, Art. 25 of the Law) to the rental value (meaning the rental value as provided for in Art. 8 of the Land Tax Law) plus the amount equivalent to the compensation which is deemed by the competent taxation office superintendent to be paid according to the actual condition of the farm-land on the date of investigation pursuant to the provision of par. 3, Art. 13 of the Law pertaining to Special Measures for Creation of Small Holdings.

Article 19. The areas as referred to in pars. 1 and 2, Art. 26 of the Law shall be as specified in the following numbers: 1. Areas of wards in Tokyo Metropolis cities as referred to in Art. 6 of the Municipal Organization Regulations, and wards in cities as specified pursuant to the provision of par. 1 Art. 82 of the Municipal Organization Regulations. 2. Areas of cities other than cities mentioned in the preceding numbers. 3. Areas of gun. 4. Areas of the seven islands of Izu. The areas of gun, cities, and wards as mentioned in the preceding paragraph shall be the areas at the date of investigation.

Article 20. The multipliers of pars. 1 and 2, Art. 26 of the Law shall be determined by the Director of Local Financial Bureau after submitting the matter to the Real Estate Appraisal Committee for deliberation. In case multipliers of the preceding paragraph have been determined by the competent Director of Local Financial Bureau in the locality where the land or houses concerned or land on which leases are set are located, the Minister of Finance shall announce in the Official Gazette the highest and lowest of the multipliers determined with respect to the representative lands, houses, or leases (meaning leases provided for in the Land Lease Law; the same shall apply hereinafter) in the area mentioned in par. 1 of the preceding Article, and of the multipliers determined with respect to the lands, houses or leases in the areas concerned. In case the Director of Local Financial Bureau has determined the multipliers of par. 1, the competent taxation office superintendent in the place where the lands or houses are located shall prepare a document stating the multipliers therein, which shall be maintained and submitted for public inspection at the competent taxation office and the city or ward office, or town or village office in the place where the lands or houses are located (in case town and village associations jointly manage the whole of town or village affairs or office business, and in the areas of the Seven Islands of Izu, offices of similar nature to town or village office).

Article 21. The appraisal of the value of lands, leases set thereon, or houses as mentioned in Art. 27 of the Law shall be made in accordance with the provisions of the following members: 1. With respect to the land mentioned in item 1 or 2 of Art. 27 of the Law (excepting mineral springs), houses mentioned in item 4 of the same Article, land or houses mentioned in item 5 of the same Article, the amount determined by the competent taxation office superintendent in accordance with the condition of the land or houses and taking into consideration the value of neighboring land or houses applicable to the provision of par. 1 of Art. 25 of the Law. 2. With respect to mineral springs or land mentioned in item 3 of Art. 27 of the Law, the current value on the date of investigation. 3. With respect to leases set on the land mentioned in the preceding items, the amount determined by the competent taxation office superintendent in accordance with the condition of the leases concerned, taking into consideration the value of the land on which the lease are set, and the ratio between the value of neighboring lands coming under the provision of par. 1, Art. 25 of the Law and the value of leases set on such lands.

Article 22. The rates as referred to in Art. 28 of the Law shall be as follows: Remaining term Years | % | | Under 10 5 ,, 15 10 ,, 20 20 ,, 25 30 ,, 30, and superficies with no stipulated term 40 ,, 35 50 ,, 40 60 ,, 45 70 ,, 50 80 Over 50 90

Article 23. The deposits, savings, and instalment-savings and other credits of similar nature in banking institutions as referred to in Art. 29 of the Law shall be those enumerated below: 1. Deposits, savings, instalment-savings or trust-money mentioned in Art. 4. 2. Postal savings. 3. Claims against trust companies (including banks engaged in trust business; the same goes hereinafter) relating to joint operation trust (meaning the joint operation trust provided for in par. 1, Art. 11 of the Law; the same goes hereinafter). 4. Claims against mujin (mutual loan) companies relating to mujin contracts. 5. Such trust-money in banking institutions as may be designated by the Minister of Finance.

Article 24. The value of corporation debentures and the debentures issued by the juridical person other than the corporation, established by special laws or ordinances (hereinafter called Special Juridical Person) shall be determined by the price of issue. The value of those issued by Special Account Corporation as designated by the provision of the Article 1 of the Corporation Account Emergency Measures Law (including the corporations which is subject to the provision of Article 39 of the said law and hence subject to relevant provisions of the Law) and the financial institutions as designated by the provision of Article 27 of Financial Institutions Account Emergency Measures Law shall be determined by taking into consideration the price of issue, assets and conditions of operation of the said corporation at the time of investigation, and conditions of assets of the said corporation after the time of investigation up to the time of enforcement of the Law, etc. The value of stocks and other investments shall be determined by market prices of such stocks or actual price of transactions of such stocks or investments during the period as specified by the Minister of Finance. In case the price of transaction is not clear, it will be determined by taking into consideration the conditions of assets or operation of the said corporation at the time of investigation, conditions of transfer of the assets of the said corporation after the time of investigation up to the time of the enforcement of the Law, prices of the stocks or investments of similar companies during the period as designated by the Minister of Finance, conditions of assets and operation of similar corporations at the time of investigation and conditions of transfer of the assets of similar corporations after the time of investigation up to the time of enforcement of the Law, etc. In case it is found that the stocks or investments has been transferred at a price lower than the price arrived at in accordance with the provision of the foregoing paragraph after the time of investigation but before the date of enforcement of the Law, the value of such stock or investment shall be determined by the price actually transacted notwithstanding the priovsion of the foregoing paragraph. The value of national bonds as referred to in Article 30, paragraph 1 of the Law, corporation debentures issued by the corporation, capital of which is over \10,000,000 (meaning the total amount of investment, total amount of capital stock paid up, total amount of investment and capital stock paid up, or total amount of foundation, as the case may be) (including the debentures issued by the special juridical persons) or the value of stock or other investment shall be determined by referring to the Central Stocks Appraisal Committee by the Minister of Finance. The value of the corporation debentures or stocks issued by the corporation other than the above-mentioned corporations shall be determined by the Director of Local Financial Bureau covering the area where the head office or main office of the said corporation is located by referring to the Local Stocks Appraisal Commitee.

Article 25. The percentage referred to in Article 31, paragraph 1, item 1 of the Law shall be follows: For those of which remaining period of duration is five years or less ................. 80% For those of which remaining period of duration is over five years ................... 70% For those of which remaining period of duration is over fifteen years ................. 60% For those of which remaining period of duration is over twenty-five years ............ 50% For those of which remaining period of duration is over thirty five years ............. 40% The multiplies referred to in Article 31, paragraph 1, item 3 of the Law shall be as follows: For those whose age is not over 25 years 15 times For those whose age is not over 25 years .. 12 times For those whose age is over 40 years ...... 8 ,, For those whose age is over 50 years ...... 5 ,, For those whose age is over 60 years ...... 2 ,, For those whose age is over 70 years ...... 1 ,, The value of a title to regular allowance which is due to the beneficiary by contract for a certain period and during the life of the beneficiary and of which the cause of payment was in existence at the time of investigation shall be appraised by the amount computed deeming the same as the terminable right as specified in Article 31, paragraph 1, item 1 of the Law. In case a contract or regular allowance calls for the payment of regular allowance up to the death of the beneficiary and also continuously, until experation of the contracts to his bereaved family or any other designated third party after his death provided that the said beneficiary is dead within a certain period and of which the cause of payment was in existence at the time of investigation, the value of said allowance shall be determined by the amount computed as the life time right referred to in Article 31, paragraph 1, item 3 of the Law. The provisions of Article 31, paragraphs 1 and 2 and foregoing four paragraphs shall be applied to the computation of the claims on regular allowance which may arise by any other causes than contract, unless otherwise provided for by the Minister of Finance.

Article 26. The value of a title to a postal annuity contract, of which the cause of payment was not in existence at the time of investigation shall be computed by multiplying the total amount of premiums paid in up to the time of investigation by the following percentages, depending on the length of period during which premiums were paid since its beginning up to the time of investigation, respectively: For those of which elapsed time is five years or less ................................. 90% For those of which elapsed time is over five years ................................. 100% For those of which elapsed time is over ten years ................................. 110% For those of which elapsed time is over fifteen years ................................. 120%

Article 27. The value of a title to a life insurance contract of which the cause of payment was not in existence at the time of investigation shall be computed by multiplying the total amount of premiums paid in by the time of investigation (excluding the premium which is not due at the time of investigation) by the ratio or seventy percent (excluding the amount obtained by multiplying the amount of insurance by the ratio of two percent). But the value of a title to a life insurance of which the total amount of premiums was paid in a single sum shall be determined by multiplying the total amount of premiums by the ratio of 100 percent.

Article 28. The value of the properties as referred to in Article 33, paragraphs 1 and 2 shall be determined as follows: 1. The value of the properties owned by the manufacturers shall be as follows: (a) The value of finished products shall be the amount of the ceiling prices as applied to manufacturers less amount of legitimate profit, amount of expenses which is regarded as necessary during the period after the time of investigation up to the time of selling (hereinafter called expenses) and the amount of excise to be paid. (b) The value of semi-finished products shall be the ceiling prices of the raw materials as applied to manufacturers in purchasing these materials plus legitimate cost of transportation and manufacturing and other expenses incurred. (c) The value of raw materials shall be the ceiling prices of these materials as applied at the time of purchases plus legitimate cost of transportation and other expenses incurred. 2. The value of the properties owned by the wholesalers shall be their ceiling prices as applied to the wholesalers less the amount of legitimate profit, estimated amount of expenses and the amount of excise to be paid. 3. The value of the properties owned by the retailers shall be their ceiling prices as applied to the retailers less the amount of legitimate profit, amount of estimated expenses and the amount of excise to be paid. 4. The value of the properties owned by general consumers shall be the ceiling prices of these properties as applied to retail sales.

Article 29. The ratios as referred to in paragraph 1 of Article 36 and paragraph 2 of same Article of the Law shall be governed by what is to be defermined by the Minister of Finance. The scope of household personal property as referred to in paragraph 1 of Article 36 and paragraph 2 of the same Article of the Law shall be personal property other than that for use in business, with the exception of cash and securities.

Chapter IV. Declaration

Article 30. A person bound to file a return pursuant to the provisions of paragraph 1, Article 37 of the Law shall file with the superintendent of the taxation office having jurisdiction over the place of declaration (meaning a place to be determined according to the provisions of Article 72 of the Law with respect to the declarant. The same shall apply hereunder), a return, stating therein matters as may be determined by the Minister of Finance, by January 31, 1947. In case a person bound to file a return as under the preceding paragraph is an inheritor, who is liable, according to the provisions of paragraph 4, Article 4 of the Law, to a capital levy on property owned by the predecessor on the date of investigation, any such inheritors shall make distinction between the property owned by the predecessor on the date of investigation and that owned by the inheritor on the date of investigation and file the return as pursuant to the preceding paragraph for each of them separately. In case there are two or more declarants among members of a coliving family, the taxable amount for one declarant shall be separated from that for another and the return as under paragraph 1 shall be filed under joint signature of all declarants concerned; provided, however, that the return may be filed for each of such members separately by mentioning therein the names of other members who are declarants.

Article 31. As regards a person, who is bound to file the return as prescribed in paragraph 1 of Article 37 of the Law on or before January 31, 1947, by reason of the causes as referred to in the respective items of paragraph 1, Article 38 of the Law, the filing date of the return as prescribed in paragraph 1 of the preceding Article shall be the day after the lapse of three months from the day following that on which the causes came into existence. As regards a person who has failed to file the return as prescribed in paragraph 1 of the preceding Article on or before January 31, 1947, owing to the condition of communications, transportation and others, the filing date as prescribed in paragraph 1 of the preceding Article shall be the day after the lapse of three months from the day following that on which such conditions ceased to exist.

Article 32. In the case of paragraph 1, Article 11, thet return as prescribed in paragraph 1, Article 30 shall contain matters as may be determined by the Minister of Finance and signed jointly by a person the amount of whose liabilities exceeds the amount of his property and any member of the co-living family who wishes to have applied the provisions of paragraph 2, Article 12 of the Law.

Article 33. A person who wishes to be given deductions as prescribed in Article 18 or Article 19 of the Law shall append to the return as prescribed in paragraph 1, Article 30, a detailed statement, mentioning therein such matters as may be determined by the Minister of Finance. A person who wishes to be given deductions as prescribed in Article 19 of the Law shall, simultaneously with the filing of the return as prescribed in paragraph 1, Article 30, present to the superintendent of the taxation office having jurisdiction over the place of declaration a certificate such as referred to in Article 16 or some other document similar thereto, or shall, according to what is to be determined by the Minister of Finance, append to the return as prescribed in paragraph 1, Article 30 a letter attesting to the possession of the aforesaid document.

Article 34. A person bound to file a ruturn pursuant to the provisions of paragraph 1, Article 38 of the Law shall, within three months from the day following that on which the causes as referred to in the same paragraph came into existence, file the return as prescribed in paragraph 1, Article 30 with the superintendent of the taxation office having jurisdiction over the place of declaration. The provisions of paragraph 2, Article 30 and of the preceding Article shall apply mutatis mutandis to the case of the preceding paragraph.

Article 35. A person who has to revise his return pursuant to the provisions of paragraph 1, Article 39 of the Law (including cases as referred to in paragraph 4 of the same Article) shall, within three months from the day following that on which the causes as referred to in paragraph 1, Article 38 of the Law came into existence, file with the superintendent of the taxation office having jurisdiction over the place of declaration a revised return (a revised statement of taxable amount in case the provisions of paragraph 1, Article 39 of the Law is applied mutatis mutandis as provided for in paragraph 4 of the same Article), stating therein such matters as may be determined by the Minister of Finance. A person who has to revise his return pursuant to the provisions of paragraph 3, Article 39 of the Law (including cases as referred to in paragraph 5 of the same Article) shall, immediately after his discovery of any ommission with respect to his taxable amount, file with the superintendent of the taxation office having jurisdiction over the place of declaration a revised statement of taxable amount in case the provisions of paragraph 3, Article 39 of the Law are applied mutatis mutandis by virtue of paragraph 5 of the same Article, stating therein such matters as may be determined by the Minister of Finance. The provisions of paragraph 2, Article 31, shal apply mutatis mutandis to the cases as referred to in the preceding two paragraphs, and the provisions of Article 33, to the case as referred to in paragraph 1.

Chapter V. Payment

Article 36. The taxpayer shall, when making the payment of a capital levy pursuant to the provisions of paragraph 1, Article 40 of the Law, do so to the principal office of the Bank of Japan or its branches or agencies, attaching thereto a note of payment in conformity to such form as may be determined by the Minister of Finance.

Article 37. The additional amount of the tax as provided for in Article 65 of the Law and the additional imposition as provided for in paragraph 1, Article 66 of the Law shall not be added up to the amount of a capital levy as prescribed in paragraph 1, Article 41 of the Law and paragraph 1, Article 44 of the Law; provided, however, that this shall not apply to the amount of the tax to be added up to the delayed amount of the tax as prescribed in paragraph 1, Article 57 of the Law. (In cases where the amount of the tax as prescribed in Article 65 is to be added up to the tax as referred to in item 2 or 5, paragraph 1, Article 40 of the Law, or to the additional imposition as prescribed in Art. 50 of the Law if the payment thereof is to delay, the added portion of the amount shall be excluded from the amount of delayed payment).

Article 38. The amount of the capital levy to be paid jointly by the truster or the donee or the inheritor pursuant to the provisions of Article 42 or paragraph 1, Article 43 of the Law, if the property of the trustee or the donor or the predecessor on the date of investigation (including the property to be regarded as owned by the donor or the ancestor on the day of investigation according to the provisions of Articles 8 and 9 of the Law. The same shall apply hereunder) contains property in the old account as provided for in paragraph 1, Article 55 of the Law (hereinafter called "the old account property"), shall be the total sum of the amounts itemized below: 1. An amount in the amount of Capital Levy tax which is to be computed after eliminating the value of old account property from the whole taxable amount of the predecessor beneficiary or donor, which is to be figured out by applying the ratio of the value of trusted property, rights relating to trustee-ship, donated property or inherited property other than the old account property against the taxable amount corresponding to said Capital Levy tax minus the value of old account property, to said Capital Levy tax. 2. An amount in the Capital Levy tax which the beneficiary, donor or predecessor is permitted to apply for the payment in the form of old account deposits (meaning the old account deposit referred to in Art. 55, par. 1 of the Law) pursuant to Article 55, paragraph 1 of the Law, which is proportionate to the ratio of trusted property, rights relating to trustee-ship, donated property or inherited property which are old account property against whole old account property.

Article 39. The amount on which the donor or the predecessor may lay claim against the donee or the inheritor pursuant to the provisions of paragraph 2, Article 43 or paragraph 3 of the same Article of the Law, shall, if the old account property is included in the property of the donor or the ancestor on the date of investigation, be the amount proportionate to the ratio of the amount of the capital levy to be paid jointly by the donee or the inheritor pursuant to the provisions of the preceding paragraph, to the amount of the capital levy paid by the donor or predecessor. In case the donor of the predecessor who has paid the capital levy in the form of the old account deposit, lays a claim against the donee or inheritor pursuant to the provisions of paragraph 2, Article 43 or paragraph 3 of the same Article of the Law, the donee or the inheritor may meet such claims of the donor or the predecessor in the form of the old account deposit, up to the amount proportional to the ratio of the amount as referred to in item 2 of the preceding Article to the amount of the capital levy which the donor or the ancestor may apply for permission to pay in the form of the old account deposit, pursuant to the provisions of paragraph 1, Article 55 of the Law. In this case, if the donee or the inheritor has the old account deposit in question in two or more financial institutions, he shall meet such claims in the form of such old account deposit, held in each of those financial institutions in proportion of each old account deposit in each financial institution. In the case of the preceding paragraph, with respect to the old account deposit, corresponding to the old account property as being the donated property of the inherited property, if part of such claims is transferred to the new account of the financial institution or to the new financial institution (by this is meant new financial institutions as referred to in Article 15 of the Financial Institutions Reconstruction and Reorganization Law. The same shall apply hereunder) according to the Financial Institutions Reconstruction and Reorganization Law, the donee or the inheritor may meet the claims of the donor or the predecessor in the form of the old account deposit, only to the amount proportionate to the ratio of the amount of the old account deposit in question remaining in the old account to the amount of the old account deposit in which form he may meet such claims pursuant to the provisions of the preceding paragraph. In the case of paragraph 2, with respect to the old account deposit corresponding to the old account property as being the donated property or the inherited property, if such claims ceased to exist, in whole or in part, in consequence of the final disposition of the old account according to the Financial Institutions Reconstruction and Reorganization Law, claims shall not be required to be met with respect to the amount proportionate to the ratio of the portion the old account deposit that has become extinct to the amount the old account deposit in which form the claims may be met.

Article 40. In the case of paragraph 2 or paragraph 3, Article 43 of the Law, the amount on which the donor or the ancester may lay claim against the donee or the inheritor shall not exceed the amount remaining after the deduction of the amount of the capital levy which was paid jointly by the donee or the inheritor from the amount of the tax for which the donee or the inheritor is jointly liable according to the provisions of paragraph 1 of the same Article or paragraph 1, Article 44 of the Law.

Article 41. Deposits, savings and other credits as referred to in paragraph 1, Article 45 of the Law (including cases applicable mutatis mutandis by virtue of paragraph 2 of the same Article) shall be those specified below, and those which have been made to belong to the new account of financial institutions according to the Law concerning Emergency Measures for Financial Institutions' Accounts; provided however, that those with mortgage rights shall be excluded: (1) Term deposits, term savings, fixed savings, instelment savings, or fixed money trust as referred to in the respective items of Article 4. (2) Claims on joint-operation-trust with the trust companies.

Article 42. When the taxpayer wishes to request the refundment, either in whole or in part, of his term deposit, term savings, fixed savings or fixed money trust prior to its due date or cancel the contract with respect to instalment savings or joint-operation trust, or request the payment of an amount corresponding to a part thereof, he shall present to the financial institution the note of payment as prescribed in Article 37 or some other document similar thereto, after having matters as may be determined by the Minister of Finance attested by the superintendent of the taxation office having jurisdiction ovre the place of tax-payment. In the case of the preceding paragraph, the financial institution shall comply with the request made by the taxpayer upon receipt from him the attested document as referred to in the same paragraph. In case the financial institution refunds or repays the required amount pursuant to the provisions of the preceding paragraph, it shall, according to what is determined by the Minister of Finance, pay interests or a sum similar thereto or profits, on the amount in question.

Article 43. In the case of the preceding Article, the financial institution shall not be allowed, whatever the name may be, to receive from the taxpayer a compensation, commission and the like.

Article 44. The provisions of Article 37 and of the two preceding Articles shall apply mutatis mutandis to persons liable for joint payment with respect to the capital levy.

Chapter VI. Payment in Kind and Deferred Payment

Article 45. The old account deposits shall be deposits savings and other kinds of credit which were made, to belong to the old account of the financial institutions pursuant to the Law concerning the Emergency Measures for Financial Institutions' Accounts, such as specified hereunder: (1) Deposits, savings, instalments and others similar thereto as provided for in Article 4 and Article 23, items (3) to (5) inclusive. (2) Claims respecting life insurance contracts with the life insurance companies or the Central Board of Life Insurance.

Article 46. The old account property shall be properties of the taxpayer as at the date of investigation such as specified hereunder: (1) In case the amount of deposits, savings and other kinds of credit (hereinafter called "deposits, savings, etc.") in one and the same financial institution as at 0:00 a.m., August 11, 1946 (hereinafter called "the designated hour") remained the same or decreased as against the amount of deposits, savings, etc. at the date of investigation (including those which were converted into deposits, savings or monetary trusts according to the provisions of Article 2, paragraph 1 of the Ordinance concrening the depositing of Bank of Japan Notes: provided, however, that those paid out according to the provisions of the same Article, paragraph 2 shall be excluded. The same shall apply hereunder), the amount corresponding to that of the old account deposit, etc. at the designated hour (meaning the amount remaining after the deduction of any such taxes, public imposts and other liabilities as may be determined by the Minister of Finance, for which payment has been made, or may be made, in the form of the old account deposit, etc.) in the deposit, savings, at the date of investigation. (2) In case the amount of deposits, savings, etc. in one and the same financial institution at the designated hour showed an increase over the amount of deposits, savings, etc. at the date of investigation, the amount corresponding to that of such deposits, savings etc. which should have been converted into the old account deposit, etc. at the designated hour had it not been for such an increase (by this corresponding amount is meant an amount remaining after the deduction of the amount proportionate to the ratio of the amount which should have been converted into the old account deposit, etc. to the amount of the old account deposit, etc. at the designated hour from the amount of the old account deposit, etc. at the designated hour, to the amount in question, in case there has been any amount used, or may be used, for the fulfillment of liabilities, including such taxes, public imposts, etc. as may be determined by the Minister of Finance in the form of the old account deposit, etc.). (3) In case the proceeds from the sale of property (real estates, vessels, mining rights and securities only) existed at the date of investigation or property received in payment for claims existed at the date of investigation was converted into the old account deposit, etc., if it makes the taxpayer difficult to pay the amount corresponding to the difference between the amounts (A) and (B) of the capital levy in the form of other than the old account deposit, etc., the amount of the disposed property or the claim in question, to the extent of the amount of the difference in the tax which he may find it difficult to pay: (A) The amount of the capital levy computed on the basis of the amount remaining after the deduction of the amount of the old account property as referred to in the above from the taxable amount. (B) The amount of capital levy computed on the basis of the amount remaining after the deduction of the total amount of the old account property and the disposed property or the amount of claim in question as referred to in the two-preceding items from the taxable amount. As regards the application of the provisions of item 1 or 2 of the preceding paragraph, in case deposits, savings, etc. in the financial institution A at the date of investigation is transferred to the financial institution B by the designated hour, the amount transferred shall be regarded as having existed in the financial institution B at the date of investigation. As regards the application of the provisions of item 1 or 2 of paragraph 1, the amount of deposits, savings, etc. or the amount of the old account deposits etc. converted from the amount of the proceeds or the amount of the property received in payment for claims as referred to in item 3 of the said paragraph shall not be added up to the amount of the deposits, savings etc. at the designated hour and the amount of the old account deposit, etc. at the designated hour, respectively. Necessary matters concerning the application of paragraph 1 to the case of a transfer made of deposits, savings etc., at the time of investigation on account of donation, bequest or contributor that may be made after the date of investigation shall be determined by the Minister of Finance.

Article 47. "The amount of capital levy tax to be paid" as prescribed in par. 1, Art. 55 of the Law shall include the amount of tax to be added pursuant to the provision of Art. 65 of the Law, and the amount of tax to be additionally collected pursuant to the provision of par. 1, Art. 66 of the Law; while "the amount of capital levy tax computed by eliminating the value of old account property from the taxable amount" as provided for in par. 1, Art. 55 of the Law shall include the amount of tax to be added pursuant to the provision of Art. 65 of the Law and such amount of tax to be additionally collected pursuant to the provision of par. 1, Art. 56 of the Law as are related to the amount of the capital levy tax concerned. The old restricted account which a taxpayer or a person who has joint liability to pay capital levy tax can appropriate for the payment of capital levy tax pursuant to the provision of pars. 1 or 2, Art. 55 of the Law shall be the old restricted account corresponding to old account property which is related to the capital levy tax concerned; provided that the old restricted account on which a security right exists shall be excluded.

Article 48. In case a taxpayer who is going to pay the capital levy tax in the form of old restricted account owns old account properties corresponding to old restricted accounts in two or more than two banking institutions, he shall apply excepting the case where the Minister of Finance waker special provisions, to the Government for payment in the form of old restricted account in banking institutions in respect to the amount of capital leavy tax computed by dividing the amount of tax which he may request to pay in the form of old restricted account pursuant to par. 1, Art. 55 of the Law in proportion to the values of old account properties corresponding to old restricted accounts in banking institutions (excepting the old restricted accounts on which security rights exist).

Article 49. In case a person who has joint liability to pay capital levy tax owns old restricted account corresponding to old account property which is related to the capital levy tax concerned, he may apply to the Government for payment in the form of old restricted account concerned in respect to such amount of capital levy tax which the taxpayer may request to pay in the form of old restricted account pursuant to par. 1, Art. 55 of the Law as are equivalent to the amount computed by dividing in proportion to the ratio of the value of old account property which was made the basis of computing the taxable amount of the taxpayer.

Article 50. In case, with respect to the old restricted account corresponding to old account property, part of the credits have been transferred to the new account or a new banking institution by virtue of the Financial Institutions Reconstruction and Reorganization Law after the date of designation and before the payment of capital levy tax in the form of old restricted account, the taxpayer may pay in the form of old restricted account only such amount of tax which he may request to pay in the form of old restricted account as are divided in proportion to the ratio of the amounts outstanding in the old restricted accounts concerned.

Article 51. A taxpayer who is going to pay the capital levy tax in the form of old restricted account shall submit to the competent taxation office superintendent in the place of payment an application stating therein the particulars as specified by the Minister of Finance a month before the time-limits of payment mentioned in the items of par. 1, Art. 40 of the Law or before the time-limit mentioned in Art. 50 of the Law.

Article 52. When necessary for the payment of capital levy tax in the form of old restricted account pursuant to the provision of par. 1, Art. 55 of the Law, a taxpayer may only to that extent cancel or alter a fixed instalment savings contract, joint operation trust contract, life in life insurance contract, or mujin (mutual loan) contract which is related to the old restricted account. In this case the taxpayer shall acquire credits on the banking institution which is party to such contract equivalent to the amount corresponding to a part or the whole of the instalments paid, amounts put in trust, or liability reserve put by for insurance contractors plus the interest as prescribed by the Minister of Finance, the amount equivalent to interest, or the amount of profit. The provision of Art. 43 shall apply in respect to the case of the preceding Article.

Article 53. In case payment of capital levy tax in the form of old restricted account has been permitted, the taxpayer shall, presenting the permit and the passbook or certificate of the old restricted account, notify the banking institution which is party to the contract to the effect, in the case of deposits, savings, or trust-money in the Pension Depository, that he is going to pay the capital levy tax in the form of credits equivalent to the amount to be appropriated for the payment of capital levy tax, and in the case of fixed instalment savings contract, joint operation trust contract, life insurance contract, or mujin contract, to the effect that he is going to cancel or alter such contract to the extent of the amount necessary for the payment of capital levy tax, and pay the capital levy tax in the form of credits acquired thereby. In case the notification of the preceding paragraph has been made, the credits concerned shall, notwithstanding other Laws and Ordinances or contracts, be regarded as having been transferred to the Government, and at the same time capital levy tax equivalent to the amount of credits shall be deemed to have been paid. In this case the banking institution which is party to the contract shall notify the particulars as specified by the Minister of Finance to the competent taxation office superintendent in the place of payment of the taxpayer.

Article 54. The kind of property which may be used as the instrument of payment of capital levy by virtue of Art. 56, par. 1 of the Law (including the case as applied by virtue of par. 2 of the same Article) shall be such properties as are enumerated hereunder which were basis for the computation of the taxable amount of a taxpayer. 1. National bonds and local public bonds. 2. Corporate debentures, fully paid-up shares and shares of other contributions, and certificate of investment trust. 3. Real estates. 4. Personal estates. Properties as are enumerated in No. 2 or 3 of the preceding paragraph may be appropriated for the payment in kind only in case a taxpayer has paid more than 80 percent of the total amount of such property which he owned at the time of application for payment in kind, as are enumerated in No. 1 above. Property as enumerated in No. 4 of the preceding paragraph may be appropriated for the payment in kind only in case a taxpayer has paid more than 80 percent of the total amount of such property, which he owned at the time of application for payment in kind, as are enumerated in No. 2 and 3, provided, this shall not apply in the case where the property enumerated in No. 2 or 3 which a taxpayer owned at the time of application for payment in kind, does not have proper value.

Article 55. Appraisals of properties to be collected in accordance with Art. 56, par. 1 of the Law (including the case as applied in par. 2 of the same Article) shall be made as follows; provided, if the condition of the properties concerned has been conspicuously changed other the date of investigation, the superintendent of a taxation office may determine the value of said properties according to actual conditions at the time of payment: 1. In case of payment of capital levy as enumerated in items of Art. 40, par. 1 of the Law (including the case of payment of additional tax pursuant to Art. 65, par. 1 of the Law, or of the tax additionally collectable pursuant to Art. 66, par. 1 of the Law), the value of property concerned which was stated by a taxpayer in the return filed by virtue of Arts. 37-39 of the Law, provided, in case the value has been deemed to be unreasonable by the superintendent of a taxation office, the value which has been deemed reasonable by the superintendent. 2. In case of the payment of capital levy to be additionally collected by virtue of Art. 50 of the Law (including the case of payment of additional tax pursuant to Art. 65, par. 3 of the Law, or of the tax additionally collectable pursuant to Art. 66, par. 1 of the Law), the value of property concerned which was the basis for correction or determination of the taxable amount.

Article 56. In case a property which is deemed to correspond to such postal savings or postal annuity which belong to the restricted account by virtue of Emergency Financial Measures Ordinance and which is designated by Minister of Finance (such savings shall hereinafter be called the quasi-old-account, and such property shall hereinafter be called the quasi-old-account property), was included in the property on the date of investigation, the taxpayer may pay the amount of tax equivalent to the amount of capital levy as shown in item 1 hereunder less the amount of capital levy as shown in item 2, in the form of the quasi-old-restricted account. 1. The difference between the amount of capital levy which the taxpayer is to pay (including the amount of the tax to be added by virtue of Art. 65 of the Law and the amount to be additionally collected by virtue of Art. 66 of the Law.) and the amount capital levy computed by eliminating the value of the old account property and the quasi-old-account property from the total taxable amount (including the amount of tax to be added by virtue of Art. 65 of the Law and the amount to be additionally collected by virtue of Art. 66 of the Law in respect to the asid capital levy). 2. The amount of the tax which may be applied by a tax-payer for the payment of capital levy in old-account deposits by virtue of Art. 55, par. 1 of the Law. A taxpayer may change the postal annuity contract concerning the quasi-old-account deposit, to such extent as necessary for the payment of capital levy pursuant to the preceding paragraph; in this case, the taxpayer gains the credit against the Government equivalent to the amount computed according to the way prescribed by Minister of Communications. The provisions of Art. 46 shall apply in respect of quasi old-account property, and the provisions of Art. 47, par. 2 shall apply in respect of quasi-old-account deposit. The provisions of Art. 53 shall apply in respect of the case where capital levy is to be paid in the form of quasi-old-account deposit; in this case, in the same Article, "deposits, savings, or trust-money in the Pension Depository" shall read "postal savings," "fixed instalment savings contract, joint operation trust contract, life insurance contract, or mujin contract" shall read "postal annuity contract," "conceting or altering such contract" shall read "alter such contract" and "banking institution whih is other party of the contract" shall read "postal office."

Article 57. A person who likes to apply for the payment in kind shall submit to the superintendent of the taxation office which administers the place of payment the application stating therein matters as may be prescribed by Minister of Finance, within one month before the time-limit as enumerated in each number of Art. 40, par. 1 of the Law, or before the time-limit as prescribed in Art. 50 of the Law.

Article 58. In case the superintendent of a taxation office deems the property offered as the payment to be difficult to handle or dispose, he may order to change it or he need not permit the payment in kind.

Article 59. In case the taxpayer has been ordered to change the property offered as the payment by virtue of the preceding Article, and therefore wants to offer another property he shall submit to the superintendent of the taxation office an application stating therein matters as may be prescribed by Minister of Finance, within 20 days after the notification of the said order is received. In case the taxpayer failed to submit the application by the time-limit of the preceding paragraph, the application for the payment in kind shall become void.

Article 60. The payment in such properties as are enumerated in Art. 54, par. 1 shall be deemed as the payment of capital levy only when the transference of the property, registration of the transference of the ownership of the property or other conditions legally authorized as invulnerable against third parties is completed.

Article 61. A person who wants to apply for the payment in delay shall, within one month before the time-limit as referred to in each item of Art. 40, par. 1 of the Law or by the time-limit as prescribed under Art. 50 of the Law, submit with the superintendent of the taxation office which administers the place of payment an application stating therein matters as may be prescribed by the Minister of Finance; provided, however, in case the delayed amount exceeds 50,000 yen but does not exceed 100,000 yen, it shall be submitted with the Director of the Local Finance Bureau concerned through the superintendent of the taxation office which administers the place of payment, and in case the amount exceeds 100,000 yen it shall be submitted to Minister of Finance through the superintendent of a taxation office which administers the place of payment. In case a taxpayer who had submitted the application pursuant to Art. 57 has have his application rejected or been ordered to change the property appropriated for the payment in kind by virtue of Art. 58, the application of the preceding paragraph in respect to the tax concerned may be submitted within 20 days after the notification of rejection or change is received, notwithstanding the preceding paragraph.

Article 62. Kind of properties to be presented as mortgages in accordance with Art. 57, par. 1 of the Law shall be as follows: 1. National bonds, local public bonds and corporate debentures and other securities which the superintendent of a taxation office deems reliable; 2. Lands; 3. Fire insured houses; 4. Fire insured growing trees; 5. Insured vessels; 6. Factory-foundations, mine-foundations and fishery-foundations;

Article 63. A person who is going to offer the property mentioned under item 1 of the preceding paragraph shall deposit the same with the Deposit Office and deliver the deposit-receipt to the superintendent of a taxation office; provided that in respect to registered national bonds and corporate debentures registered in accordance with the Corporate Debentures Registration Law, registration-notification note or registration certificate shall be delivered and, as to national bonds registered in class B National Bond Register Book, deposit-receipt shall be delivered after puttig the inscribed national bonds into deposit with the Deposit Office. In case the property mentioned under items 2-6 of the preceding Article has been presented as mortgages, the superintendent of a taxation office shall put the mortgages into registry or registration with registry office or registration office.

Article 64. In case the superintendent of a taxation office deems the property mortgaged to have depreciated, he may order to have additional mortgages presented. In case the property as mentioned under Art. 62, item 1 which was mortgaged is refunded or paid back, or houses, growing trees or vessels mortgaged is destructed or lost or insurance contracts thereon become distinct, the taxpayer shall present substituting mortgages.

Article 65. In case a taxpayer, failing to accord with the preceding Article, has neglected to present new mortgages, the superintendent of a taxation office may cancel the permission of delayed payment and collect the tax at one time, the same shall apply in respect to the case of deliquency in instalment payment.

Article 66. In case a taxpayer who was permitted delayed payment has fallen in arrears, the mortgages, if any, shall be put into public auction and proceeds therefrom shall be appropriated for the payment of tax in arrears (including expedition charges, delayed interests and expenses for the public auction; the same goes in this Article). The public auction of the preceding paragraph shall be executed in accordance with the process of the public auction of the national tax compulsory collection. In case the value of the mortgage has been found, before the completion of the public auction, to be insufficient to cover the tax in arrears, the compulsory collection procedure may be executed on other properties of the taxpayer.

Article 67. In case the tax in delay has been paid out, the superintendent of a taxation office shall release the property from mortgage.

Article 68. In case the application as prescribed in Art. 51 (including the same provisions as applied by virtue of Art. 71) or Art. 57 (including the same provisions as applied by virtue of Art. 71) has been filed, the superintendent of a taxation office may postpone the collection of the tax with the application of a taxpayer, if he deems necessary. A taxpayer who wants to be favoured postponement of the collection of the tax by virtue of the preceding paragraph, shall apply the matter stating the reason therefor, simultaneously with the application referred to in the preceding paragraph, to the superintendent of a taxation office which administers the place of payment. When the superintendent of a taxation office has postponed the collection of the tax by virtue of par. 1, he shall notify the same to the taxpayer. If, in the case where collection of the tax has postponed pursuant to the preceding Article, the application for payment in old account deposit in kind or in delay is rejected, or if, after the disposition concerning the said application has been determined or after the application for the payment in kind has become void by virtue of Art. 59, par. 2, there remains tax yet to be paid, the superintendent of a taxation office shall appoint the payment date and collect the tax.

Article 69. In case an overpayment of the capital levy which has been paid by virtue of Art. 55, par. 1 or par. 2 of the Law is found in the part, which has been paid in old account deposit refundment concerning to the amount of the said overpayment shall be made in the old account deposit. In the case of the preceding paragraph, if a part of old account-property which has been appropriated for the payment of the tax, is transferred to the new accounts or to a new banking institution by virtue of the Reconstruction and Reorganization of Banking Institutions Law, the refundment shall be made in the old account deposit to the extent proportionate of the percentage of old account deposit remaining after the disposal against the total amount of the old account property appropriated for the payment of the tax. In the case of par. 1, of the old account deposit or a part thereof appropriated for the payment of the tax has proved void on the final disposal of the old account of a banking institution pursuant to the Reconstruction and Reorganization of Banking Institutions Law, the refundment shall not be made to the extent of the amount proportionate of the percentage of old account deposit remaining after the disposal against the total amount of the old account deposit appropriated for the payment of the tax.

Article 70. In the case where the capital levy is paid in accordance with Art. 56, par. 1 of the Law, if there is any overpayment concerning the said tax, the property as enumerated in Art. 54, par. 1 which was appropriated for the payment in kind, may be, with the application of a taxpayer, appropriated for the refundment of overpayment (including the case as applied in the preceding Article, the same goes in this Article); provided that this shall not hold good in the case where the said property is sold, or is used for public or common services, or the amount of overpayment does not exceeding half of the appraised value of the said property. Appraisals of properties in the case of refundment of overpayment to be made in accordance with the preceding paragraph shall be made on the basis of the preceived value (in case the Government has paid improvement expenses, said value plus the amount equivalent to the expenses; the same goes in this Article). If, in the case of par. 1, the amount of overpayment is less than the amount of the received value of the property concerned, the taxpayer shall pay the amount equivalent to the amount of difference between the two above. The provisions of pars. 1 and 3 of the preceding Article shall apply in respect to the case where an overpayment of the capital levy which has been paid in quasi-old-account deposit as prescribed in Art. 56, par. 1 is found; in this case, in pars. 1 and 3 of the preceding Article, "Art. 55, par. 1 or 2" shall read "Art. 56, par. 1," "old-account deposit " shall read "quasi-old-account deposit," and "on the final disposal of the old account of a banking institution made pursuant to the Reconstruction and Reorganization of Banking Institutions Law" shall read "the Disposal of Less of Deposit Bureau of the Ministry of Finance Law."

Article 71. The provisions of Art. 48, Arts. 50-53, Art. 54, pars. 2 and 3, Arts. 56-59 and of the preceding Article shall apply to a person who is jointly liable to pay capital levy; in this case, in Art. 48, "Art. 55, par. 1 of the Law" shall read "Art. 49 of the Law." In Arts. 51 and 57, "within one month before the time-limit as referred to in each item of Art. 40, par. 1 of the Law or by the time-limit as prescribed under Art. 50 of the Law" shall read "within 20 days after the notification of payment of capital levy is received from the superintendent of a taxation office which administers the place of payment of the taxpayer," "the superintendent of a taxation office which administers the place of payment" shall read "the superintendent of a taxation office concerned," in Art. 52, "par. 1" shall read as "par. 2"; and in the preceding Article, "Art. 56, par. 1 of the Law" shall read "Art. 56, par. 1 of the Law as applied in par. 2 of the same Article."

Chapter VII. Miscellaneous Provisions

Article 72. In case a taxpayer is acknowledged by the superintendent of a taxation office to be scarcely able to pay the tax because of earthquake, flood, lightning, fire, thunderstorm, windstorm, volcanic eruption or any other act of God, the superintendent of a taxation office may, with the application of the taxpayer, abate or exempt his capital levy tax. A taxpayer who likes to be favoured abatement or exemption of capital levy tax by virtue of par. 1, shall apply the matter stating the reason therefor to the superintendent of a taxation office which administers the place of payment. When the superintendent of a taxation office has abated or exempted the capital levy by virtue of par. 1, he shall notify the same to the taxpayer.

Article 73. In the case where the application for the payment in the old account deposit may be made by virtue of Art. 55 of the Law, if, before the payment of the capital levy in the old account deposit is made, the old account deposit or a part thereof has become 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 superintendent of a taxation office may exempt the capital levy tax to the extent of the amount proportionate of the percentage of the amount of credit extinguished in the old account deposit against the amount of the tax in respect of which the application for the payment in old account deposit concerned may be made. A person who wants to be favoured abatement or exemption of capital levy tax by virtue of the preceding paragraph, shall apply the matter for the superintendent of a taxation office which administers the place of payment, as prescribed by the Minister of Finance. When the superintendent of a taxation office has abated or exempted the capital levy by virtue of par. 1, he shall notify the same to the taxpayer. The provisions of the preceding three paragraphs shall apply in respect to the case where there is any amount of the tax which may be applied for the payment in quasi-old-account deposit.

Article 74. A person who wants to inspect returns (including revised returns) filed by taxpayers or documents regarding correction, determination or revision of taxable amounts, may request the Government to inspect them, after paying a charge as prescribed by the Minister of Finance.

Article 75. A person who wants to give an information in accordance with Art. 64 of the Law, shall inform the matters as are enumerated hereunder to Minister of Finance or to the Director of the Local Finance Bureau. 1. Name and address of a informer. 2. Details of the fact that a person deemed liable to pay the tax had failed to file his return or of the suspect of an omission in the taxable amount of a taxpayer. 3. Name and address of a person deemed liable to pay the tax or of a taxpayer referred to in the preceding number.

Article 76. The amount of a reward to be given to a informer by virtue of Art. 64, par. 1 of the Law shall be an amount not exceeding 25% of the tax recovered by the correction of determination (including an amount of the tax to be added to the capital levy tax by virtue of Art. 65 of the Law or of the tax to be additionally collected by virtue of Art. 66 of the Law) and which is acknowledged by the Director of Local Finance Bureau to be proper according to the importance of the contribution of the information to dertermination or correction of the taxable amount. The reward as referred to in Art. 64, par. 1 of the Law shall be given by the Director of Local Financial Bureau which administers the place of payment of the taxpayer.

Article 77. The amount of tax to be added to the amount of the capital levy tax as enumerated in Art. 40, par. 1, item 2 or 5 of the Law by virtue of Art. 65, par. 1 of the Law, or the amount of tax to be added to the amount of by virtue of Art. 50 of the Law the tax of additional payment shall be computed, according to the number of days as enumerated in the following items, by multiplying the amount of said tax at the rate of 10% per annum. 1. As to the capital levy tax as enumerated in Art. 40, par. 1, item 2 of the Law, (a) In case the return was to be filed by the timelimit as prescribed in Art. 37 of the Law, from the day following the payment date prescribed in Art. 40, par. 1, item 1 of the Law. (b) In case the return was to be filed by the time-limit as prescribed in Art. 38 of the Law, from the day following the payment date prescribed in Art. 40, par. 1, item 3 of the Law. 2. As to the capital levy tax as enumerated in Art. 40, par. 1, item 5 of the Law, or as to the capital levy tax equivalent to the amount of the tax of additional payment referred to in Art. 50 of the Law, the number of days from the day mentioned below to the payment date prescribed in Art. 40, par. 1, item 5 of the Law or to the payment date prescribed in Art. 50 of the Law. (a) In case the return was or was to be filed by the time-limit as prescribed in Art. 37 of the Law, from the day following the payment date prescribed in Art. 40, par. 1, item 1 of the Law. (b) In case the return was or was to be filed by the time-limit as prescribed in Art. 38 of the Law, from the day following the payment date prescribed in Art. 40, par. 1, item 3 of the Law, (c) In case the return was or was to be revised by the time-limit as prescribed in Art. 39, par. 1 of the Law, (including the case as applied by virtue of item 4 of the same Article) from the day following the payment date prescribed in Art. 40, par. 1, item 4 of the Law. The amount of tax to be collected additionally to the amount of the tax of delayed payment as prescribed in Art. 57, par. 1 of the Law, by virtue of Art. 65, par. 1 of the Law as applied in par. 3 of the same Article shall be computed, according to the term as enumerated in the following items, by multiplying the unpaid amount of said tax (excluding the amount in deliquency) at the rate of 10% per annum. 1. As to the amount of tax to be paid in the first instalment, the number of days from the day mentioned below to the payment date of the delayed amount of the capital levy. (a) In respect of the delayed amount of the capital levy impossible upon the taxable amount stated in the return which was filed by the timelimit as prescribed in Art. 37 of the Law, from the day following the payment date prescribed in Art. 40, par. 1, item 1 of the Law, (b) In respect of the delayed amount of the capital levy imposable upon the taxable amount stated in the return which was filed by the timelimit as prescribed in Art. 38 of the Law, from the day following the payment date prescribed in Art. 40, par. 1, item 3 of the Law, (c) In respect of the amount of delayed payment of the capital levy equivalent to the amount of tax accrued due to the revision of return pursuant to Art. 39, par. 1, of the Law, or due to the revision of the taxable amount pursuant to Art. 39, par. 4, from the day following the payment date prescribed in Art. 40, par. 1, item 4 of the Law, (d) In respect of the amount of delayed payment of capital levy (including the capital levy as added by virtue of the preceding paragraph) as prescribed in Art. 40, par. 1, item 2 or 5 of the Law, from the day following the payment date prescribed in par. 1, item 2 or 5 of the same Article, (e) In respect of the amount of delayed payment of capital levy including the capital levy as added by virtue of the preceding paragraph) equivalent to the amount to be additionally collected by virtue of Art. 50 of the Law, from the payment date prescribed in the same Article. 2. As to the amount of tax to be paid in or after the second instalment, the number of days from the day following the payment date of the preceding instalment, to the payment date of the present instalment. The superintendent of a taxation office may, in unavoidable cases, exempt the additional amount of the tax referred to in par. 1.

Article 78. In case the capital levy referred to under Art. 40, par. 1, item 2 or 5 has been paid or the additional tax of Art. 50 of the Law is to be collected, the amount of the tax to be additionally collected by virtue of Art. 66, par. 1 of the Law, shall be computed, according to the term of time from the day as enumerated hereunder to the day on which the return (including the prevised return and revised taxable amount) concerning the said capital levy is filed or the notification of correction or determination of the taxable amount is made, by multiplying the tax concerned at the rate of 5% for each month elapsed. 1. In case the return is to be filed by the time limit as prescribed in Art. 37 of the Law, the day following the filing date of the return concerned. 2. In case the return is to be biled by the time limit as prescribed in Art. 38 of the Law, the day following the filing date of the return. 3. In case the return is to be revised by the timelimit as prescribed in Art. 39, par. 1 of the Law, the day following the date by which the return is to be revised.

Article 79. In Art. 21, par. 2 of the Law" the Government" shall mean "the superintendent of a office which administers the place of payment." "In Art. 40, par. 2, Arts. 46-50, Art. 51, par. 3, Art. 60, par. 2, Art. 65, par. 3, Art. 66, Art. 67, Arts. 72-74 and Art. 76, par. 4 of the Law, "the Government" shall mean "the superintendent of a taxation office which administers the place of payment," in Art. 68 and Art. 69 of the Law "the Government" shall mean "the superintendent of a taxation office which administers the residence of a person liable to present the papers (in case the person owns two or more offices or business places, of each of them)," in Art. 52, par. 1 and 2 of the Law, "the Government" shall mean "the Director of the Local Financial Bureau," and in Art. 62 of the Law," the Government" shall mean "the Minister of Finance." In Art. 51, par. 1 of the Law (including the case as applied by virtue of par. 2 of the same Article), the Director of the Local Financial Bureau which administers the place of payment shall be the person to whom the re-investigation is to be requested.

Article 80. Necessary matters regarding the enforcement of the Law excepting as provided in the present Ordinance shall be determined by the Minister of Finance.