Law for Partial Amendments to the Assets Revaluation Law
法令番号: 法律第59号
公布年月日: 昭和27年3月31日
法令の形式: 法律

審議経過

I hereby promulgate the Law for Partial Amendments to the Assets Revaluation Law.
Signed:HIROHITO, Seal of the Emperor
This thirty-first day of the third month of the twenty-seventh year of Showa (March 31, 1952)
Prime Minister　YOSHIDA Shigeru
Law No.59
Law for Partial Amendments to the Assets Revaluation Law
The Assets Revaluation Law (Law No.110 of 1950) shall be partially amended as follows:
The following one Article shall be added next to Article 4:
Article 4-(2).　The assets on which a decedent had ownership on the basic date and which his successor acquired through succession or bequest shall be considered, for the purpose of applying this Law, as has owned by such successor.
In Article 8 paragraph 2, "succeeded or bequeathed" shall be amended as "or bequeathed (excluding bequeath from decedent to his successor, hereinafter the same in this Chapter, Chapter II, Article 26, Chapter IV, Article 47 paragraph 1, Article 53 paragraph 3, Article 54 paragraph 1, Article 62 paragraph 2, Article 63 paragraph 3 and Chapter IX)" .
In Article 9 paragraph 1 and Article 10 paragraph 3, "succeeded" shall be deleted.
Article 12 shall be amended as follows:
Article 12.　Deleted.
In Article 15, "paragraph 1 of the preceding Article" shall be amended as "Article 14 paragraph 1" .
In Article 26, ", succeeded" shall be deleted.
The following two paragraphs shall be added next to Article 37:
2　In case the assets on which an individual had ownership on the basic date in the enforcement area of this Law, but transferred or donated on or after the basic date, are considered to have been revaluated in accordance with the provision of Article 8 paragraph 2 or Article 9 paragraph 1, the revaluation profit as provided for in the preceding paragraph shall be the amount obtained after deducting from the revaluation profit provided for in the same paragraph,100,000 yen (in case there exist, in the year when the said transfer or donation was made, outside the assets concerned (hereinafter referred to as "constructive revaluation assets" ), the assets on which the individual had ownership on the basic date in the enforcement area of this Law and transferred on donated in such year, and which are considered to have been transferred in accordance with the provision of Article 8 paragraph 2 or Article 9 paragraph 1 (hereinafter referred as "other constructive revaluation assetes" ), the amount obtained by multiplying 100,000 yen by the rate of the revaluation profit provided for in the preceding paragraph concerning such constructive revaluation assets to the total of such revaluation profit and the said revaluation profit provided for in the same paragraph concerning the other constructive revaluation assets (if there exist such constructive revaluation assets not less than 2, the aggregate of revaluation profits of them)).
3　The provision of the preceding paragraph shall apply mutatis mutandis to the case where the assets which an individual had in the enforcement area of this Law on the basic date have been bequeathed after the said date and are to be considered to have been revaluated in accordance with the provision of Article 8 paragraph 2 or Article 9 paragraph 1. In this case, "transferred or donated" as mentioned in the preceding paragraph shall read "bequeath" .
In Article 40 paragraph 3 item (2), "(in case such assets was released from the designation of equipment designated for reparation on and after the date when the old account and new account were consolidated in accordance with the Enterprise Reconstruction and Reorganization Law, the amount after deduction of the aggregate depreciation charges of the assets concerned to have been counted into business expenses in the computation of income in accordance with the provision of the Corporation Tax and orders issued thereunder in each accounting period having the closing date within the period from the date of the said release to the date of the consolidation of accounts in the case where the assets concerned were considered to have been acquired, in the date of consolidation of old accounts and new accounts under the Enterprise Reconstruction and Reorganization Law, for the amount corresponding to the assets concerned among the amount counted up as amount prescribed in Article 3 paragraph 1 item 1 d. of the same Law, from the amount corresponding to that of the assets concerned among amount appropriated as the amount prescribed in Article 3 item 1 d. of the Enterprise Reconstruction and Reorganization Law)" shall added next to "the amount thus counted" ;and the following one item added next to the same item:
(3)　In case, after the date when a corporation which invests or transfers to second company in accordance with the provision of Article 3 item (3)(hereinafter referred to as "the primary company" ), consolidated old account and new account, the said second company made the revaluation of the equipment designated for reparation concerning the said investment or transfer, the amount after deduction of the book value of the assets concerned just prior to the day of such investment or transfer (in case such book value is less than the amount after deduction of the aggregate of depreciation charges of the assets concerned to have been counted into business expenses in the computation of income in accordance with the provisions of the Corporation Tax Law and orders issued thereunder in each accounting period having the closing date within the period from the date of the release of designation for reparation to the date of the consolidation of account, in the case where the assets concerned were considered to have been acquired, in the date of consolidation by the primary company, for the amount corresponding to the assets concerned among the amount counted up as amount prescribed in Article 3 paragraph 1 item 1 d. of the Enterprise Reconstruction and Reorganization Law, from the amount corresponding to the assets concerned among the amount counted up as amount prescribed in Article 3 item 1 d. of the same Law, the amount after such deduction).
In Article 40 paragraph 4, "item 2 of the preceding paragraph" shall be amended as "item (2) or item (3) of the preceding paragraph" .
In Article 42 paragraph 4 and paragraph 5, and Article 43 paragraph 2 and paragraph 4, "succeeded" shall be deleted.
In Article 47 paragraph 1 "succeeded or" and "the commencement of succession or" shall be deleted.
In the parts other than those enumerated in each item of Article 53 paragraph 3, "succeeded" shall be deleted;and in item (2) of the same paragraph, "succeeded or" and "the commencement of succession" deleted.
In Article 54 paragraph 1 "succession or" shall be deleted.
In Article 56 paragraph 4, "if the amount of revaluation tax allowed its deferred payment in accordance with these provisions includes the tax amount attributable to the revaluation of the equipment designated for reparation, the accounting period covering the day preceding the day on which six years have elapsed after the basic date of such equipments designated for reparation, in respect of that part of the revaluation tax amount which is attributable to the revaluation of the equipments designated for reparation calculated as provided for by Cabinet Order)" shall be added next to "the accounting period concerned in the one involving December 31, 1955" .
In Article 58 paragraph 4, "(if the amount of revaluation tax allowed its deferred payment in accordance with these provisions includes the tax amount attributable to the day preceding revaluation of the equipment designated for reparation, the accounting period covering the day on which six years have elapsed from the basic day of such equipment designated for reparation, in respect of that part of revaluation tax amount which is attributable to the revaluation of the equipments designated for reparation calculated in accordance as provided for by Cabinet Order)" shall be added next to "1951" .
Article 60 shall be amended as follows:
Article 60.　Deleted.
In Article 62 paragraph 2 ", succeeded" shall be deleted.
Article 77 paragraph 1 item (1) shall be deleted;item (2) of the same paragraph shall be made item (1) of the same paragraph;and the numbering of the succeeding items shall be moved up by one;in paragraph 5 of the same Article, "In a case falling under the provision of paragraph 1 item (1), if the successor has not paid in full the amount of revaluation tax to be paid by the due date of payment designated in accordance with the provision of Article 60 paragraph 4 or paragraph 5" shall be deleted;and "item (3) or item (4)" shall be amended as "item (2) or item (3)" , and "item (2)" shall be amended as item (1) ";in paragraph 6 of the same Article," item (3) or item (4) "shall be amended as" item (2) or item (3) ";and in paragraph 7 of the same Article," , Article 60"shall be deleted.
In Article 86 paragraph 1, ", succession" shall be deleted.
In Article 88 paragraph 1, "succeeded" and "succession" shall be deleted;and in paragraph 3 of the same Article ", succeeded" shall be deleted.
Article 113 shall be amended as follows:
Article 113.　Deleted.
Supplementary Provisions:
1　This Law shall come into force as from April 1, 1952;the amended provisions other than those of Article 40, Article 56, Article 58, Article 100 and Article 113 shall apply to the revaluation tax for the assets which are transferred, succeeded, bequeathed or donated on or after January 1 of the same year.
2　With respect to revaluation tax which was imposed or should have been imposed before the enforcement of this Law, the old provisions shall still prevail.
3　The provision of Article 4-(2) of the Assets Revaluation Law after amendment shall not apply to the assets which were succeeded or bequeathed by decedent to successor by December 31, 1951 and which were considered to have been revaluated in accordance with the provision of Article 8 paragraph 2 or Article 9 paragraph 1.
4　With respect to the interest on deliquent tax to be paid, in accordance with the instances under Article 77 paragraph 1 item (1) of the Assets Revaluation Law before amendments (hereinafter referred to as "the Law before amendments" ) as provided for in paragraph 2 of the Supplementary Provisions, together with the revaluation tax which is favoured with the deferred payment at the time of enforcement of this Law, by an individual who was allowed the deferred payment in accordance with the provision of Article 60 paragraph 3 of the Law before amendments or by an individual who was allowed the deferred payment in accordance with the instances under Article 60 paragraph 3 of the Law before amendments, as provided for in paragraph 2 of the Supplementary Provisions, the interest on deliquent tax shall, notwithstanding the provision of paragraph 2 of the Supplementary Provisions, be the amount corresponding to the amount calculated, on the basis of the amount of revaluation tax to be paid on the due date prescribed in accordance with the provision of Article 60 paragraph 4 or paragraph 5 of the Law before amendment, by multiplying the rate of 2 sen to the tax amount 100 yen per diem according to the number of days from the day next to the due date of tax payment under the provision of Article 53 paragraph 3 or paragraph 4 or Article 54 paragraph 1 of the Law before amendment to the due date as provided for in Article 60 paragraph 4 or paragraph 5 of the Law before amendment (if the payment was made before such due date, the day on which such payment was made)(or, if the payment was made after such due date, the amount which the amount calculated by multiplying the rate of 4 sen to the tax amount 100 yen per diem according to the number of days from the day next to such due date of tax payment to the day on which such revaluation tax is paid).
Minister of Finance　IKEDA Hayato
Prime Minister　YOSHIDA Shigeru