Company temporary special tax - Kaisharinji tokubetsuzei

Japanese: 会社臨時特別税 - かいしゃりんじとくべつぜい

This tax was imposed based on the Temporary Special Company Tax Law (Law No. 11 of 1974). In the wake of the 1973 oil crisis, the economic situation saw the abnormal price rises of certain goods, and there was a demand for the creation of an excess profits tax, based on the argument that high profits or inflationary gains from companies should be absorbed, or that it was unacceptable for certain companies to take advantage of the situation by raising prices or taking advantage of the situation in advance to make unfair profits. This was the background to the argument that the creation of an excess profits tax should be absorbed, and it was passed as a member's bill proposed by the Liberal Democratic Party. As a result, it came to have the characteristics of both an additional tax on corporate tax and a windfall profits tax, and was applied only to each business year ending within two years of the date of enforcement of the law on March 31, 1974. Corporations subject to taxation were companies with annual income of 500 million yen or income exceeding 20% of the annual amount of capital. The tax base is the taxable corporate tax amount for the applicable year, and the tax rate is 10% (10.8% for certain business years). It was abolished on March 30, 1976.

Source: Encyclopaedia Britannica Concise Encyclopedia About Encyclopaedia Britannica Concise Encyclopedia Information

Japanese:

会社臨時特別税法（昭和49年法律11号）に基づいて課せられた税。1973年の石油危機をうけて，特定物品が異常に値上がりするなどの経済情勢を背景に，企業の高収益またはインフレ利得を吸収すべきである，あるいは，一部企業が便乗値上げ，先取り値上げを行ない不当利得を得ているのは社会感情として許しがたいという主張を背景に，超過利得税の創設が主張され，自由民主党提案にかかる議員立法として成立した。結果的には，法人税の付加税としての性格と臨時利得税的な性格を兼ね備えることになり，1974年3月31日の法施行日から以後 2年を経過する日までの期間内に終了する各事業年度にかぎり適用された。課税対象法人は，年所得 5億円または資本金の年 20%相当額をこえる所得を有する会社であった。課税標準は適用年度の課税標準法人税額で，税率は 10%（一定事業年度については 10.8%）。1976年3月30日をもって効力を失い廃止された。

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