Tax Authorities In Taiwan Levy Taxes On Housing.
Taiwan's tax authorities should first catch big fish, lock in frequent transfers, multi house families and tax inspection of luxury houses. The financial authorities in Taiwan have issued tax orders to the competent tax authorities two times within six months, and will report the results of the inspection to the legislature.
The legislature has repeatedly demanded that the administrative organs be supplemented by means of tax inspection to regulate the frequent transfer of real estate transactions within one year and to levy taxes on their profits. The financial authorities have conveyed the requirements of the legislature to all the five tax departments in Taiwan. According to the resolution of the Finance Committee of the legislative body, the tax authorities should change hands once in half a year, and sell the housing price of 50 million yuan or above the new NT $as the basic checking target. However, the finance department said that the tax departments can still see the tax collection manpower and the real estate exchange market in the area, and choose the appropriate cases for tax inspection.
The competent department of finance of Taipei, the tax administration department of Taiwan and the tax department of North District of Taiwan have already begun the selection work.
Tax authorities around the country also lock in their transaction records for the owners of many houses under the name of the house. Once the number of houses sold over six or so in one year, the tax department will regard it as the business operator of the frequently traded real estate and ask for its business registration and sale.
The financial authorities pointed out that the cases under investigation will be different according to their selling patterns.
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