When a landowner who has sold his/her land acquires another parcel of land within two years following the completion of transfer registration, and the acquisition meets any of the following provisions, if the value of the acquired land is in excess of the balance of the original value of land sold less the land value increment tax paid, the landowner may apply to the tax authority for refund of the portion of land value increment tax paid to make up the difference to be paid for the reacquisition of land:

2. After self-operated factory land has been sold, the original owner acquires another parcel of land for factory building in another industrial zone as designated by urban planning or on government-designated industrial land.

The provisions in the preceding paragraph applies if a landowner sells his/her land within two years after the registration of title transfer for the acquisition of another parcel of land is completed.

If the land value increment tax has been refunded to a landowner due to reacquisition, and the landowner transfers the reacquired land within five years from the day the transfer registration is completed for the reacquisition, said landowner shall be levied land value increment tax for subsequent transfer in addition to paying back the tax refunded; the preceding provision applies if the reacquired land is being used for purposes other than the original purpose.