The Corporation Tax Law (Law No.28 of 1947) shall be partially amended as follows:
In Article 9-(9), "Article 26-(3)" shall be amended as "Article 26-(4)" .
In Article 10 paragraphs 1 and 2, "or Article 19 paragraph 1 of the Law concerning Temporary Exceptions to the Income Tax Law" shall be added next to "Article 18 of the Income Tax Law" .
Article 17 paragraph 1 item 1 shall be amended as follows:
1. Income for each accounting period.
Corporations enumerated in each item of Article 5 paragraph 1 and Article 9 paragraph 6 .........35% of the amount of income.
Other corporations .........42% of the amount of income.
In Article 19 paragraph 2, "the main clause of the preceding paragraph" shall be amended as "the main clause of paragraph 1" ;and in paragraph 6 of the same Article, "and paragraph 2" shall be added next to "paragraph 1" ;and the following one paragraph shall be added next to paragraph 1 of the same Article:
In case the accounting period of a corporation which survives after amalgamation exceeds six months or such amalgamation has been made in the previous accounting period (excluding the opening date of the previous accounting period) or within six months after the opening date of the accounting period concerned, if the provision of the preceding paragraph applies to the corporation concerned, the amount of tax paid of which has been determined to be paid as the corporation tax for the previous accounting period before the day pervious to the day after the lapse of seven months from the opening day of the accounting period of the corporation concerned under the same paragraph shall be deemed to have included the amount of tax paid or which has been determined to be paid before the day aforesaid by the amalgamating corporation or amalgamated corporation concerned as the corporation tax for the accounting period just prior to the one which has ended at the time of amalgamation for which the corporation has ceased to exist (hereinafter referred to as "determined amount of corporation tax to amalgamated corporation" ) and the amount of corporation tax to be entered in the return under the main clause of the same paragraph shall be the total of the amount of corporation tax to be entered in the return in accordance with the provision of the main clause of the same paragraph and the amount obtained by multiplying the determined amount of corporation tax of the amalgamated corporation by 6 (or if the amalgamation has been made within six months after the opening day of the accounting period of the amalgamating corporation concerned, the number of months left in the period of six months after the amalgamation) and then dividing it by the number of months in accounting period which is the basis for the computation of the determined amount of corporation tax of the amalgamated corporation.
In Article 20 paragraph 1, "or where the accounting period subsequent to the accounting period covering the day of amalgamation of domestic corporation which survives after the amalgamation exceeds six months (excluding a case where the amalgamation is made on the opening day of the accounting period covering the day of amalgamation) or where the amalgamation has been made during the six months after the opening date of the accounting period of the domestic corporation surviving after the amalgamation which is longer than six months" and "or the domestic corporation which survives after the amalgamation" shall be deleted;and in paragraph 2 of the same Article, "paragraph 4 of the preceding Article" shall be amended as "paragraph 5 of the preceding Article" .
In Article 24 paragraph 3, "Article 26-(3)" shall be amended as "Article 26-(4)" .
In Article 26 paragraph 2, "paragraph 5 of the same Article" shall be amended as "paragraph 6 of the same Article" ;and in paragraph 3 of the same Article, "Article 19 paragraph 5" shall be amended as "Article 19 paragraph 6" .
In Article 26-(2) paragraph 3, "Article 26-(3)" shall be amended as "Article 26-(4)" .
In Article 26-(3) paragraph 2, "paragraph 3 of the preceding Article" shall be amended as "Article 26-(2) paragraph 3" ;and the same Article shall be made Article 26-(4);and the following one Article shall be added next to Article 26-(2):
Article 26-(3). In case a corporation which has to pay the corporation tax (excluding the corporation tax for each accounting period ending at the time of liquidation) in accordance with the provisions of Article 26 has filed with the Government a written application for postponement of collection in respect to the corporation tax equivalent to the amount not exceeding a half of the corporation tax concerned by the due date of filing returns as prescribed in Article 18 paragraph 1, Article 19 paragraph 1, Article 20 paragraph 1 or Article 21 paragraph 1, the Government may, notwithstanding these provisions, postpone the collection of such tax amount during the period applied for in that application, for not exceeding three months after the due date concerned.
In the return under the preceding paragraph shall be entered the name of corporation which made application, place of taxpayment, name of representatives (as for a foreign corporation, responsible persons for administration and management of assets or business in the enforcement area of this Law), the amount of corporation tax for which the corporation intends to be favoured with the postponement of tax collection and the postponement period which the corporation intends.
Except for the case under the provision of Article 7-(3) of the National Tax Collection Law, if a corporation has failed to pay fully within the due date of payment the portion of the amount of corporation tax, contained in the tax amount the collection of which was postponed in accordance with the provision of paragraph 1, other than that which was covered with such a privilege of postponement, the Government may cancel the postponement of collection in respect to tax amount covered with such a privilege and collect such tax amount at once.
The following proviso shall be added next to Article 28:
;provided, however, that, as for the corporation tax of which collection has been postponed in accordance with the provision of Article 26-(3) paragraph 1, the Government may not enforce the taxpayment except in the cases where the corporation has not paid the tax in full by the postponed due date.
In Article 29 paragraph 2, "Article 26-(3)" shall be amended as "Article 26-(4)" .
In Article 30, "Article 19 paragraph 5" shall be amended as "Article 19 paragraph 6" .
In Article 31-(2) paragraph 1 and Article 33 paragraph 2, "Article 26-(3)" shall be amended as "Article 26-(4)" .
In Article 39, "paragraph 7 of the same Article" shall be amended as "paragraph 8 of the same Article" .
In Article 42 paragraph 1 item 1, "(including the case where a corporation has not paid the tax in full due to the postponement of tax collection made in accordance with the provision of Article 26-(3) paragraph 1)" shall be added next to "by the due date of payment 1" ;in item 3 of same paragraph, "Article 19 paragraph 1," shall be added next to "the main clause of Article 18 paragraph 1," ;in item 4 of the same paragraph, "Article 26-(3)" shall be amended as "Article 26-(4)" ;and the following proviso shall be added to paragraph 5 of the same Article:
;provided, however, that, as for the interest on delinquent tax to be paid on the tax amount of which collection has been postponed in accordance with the provision of Article 26-(3) paragraph 1, the Government may not enforce the taxpayment except in the case where the corporation has not paid the said interest on delinquent tax in full by the postponed due date.
In Article 43 paragraph 1 and Article 43-(2) paragraph 1, "paragraph 7 of the same Article" , shall be amended as "paragraph 8 of the same Article" .
In Article 48 paragraphs 1 and 3, "Article 26-(3)" shall be amended as "Article 26-(4)" .
In Article 49 item 1, "paragraph 7 of the same Article" shall be amended as "paragraph 8 of the same Article" .