Alexa
  • Directory of Taiwan

11 types of realty transactions exempted from luxury tax: MOF

11 types of realty transactions exempted from luxury tax: MOF




Taiwan’s Ministry of Finance (MOF) announced this week the amendment of the luxury tax to remove certain property transactions off the heavy-duty list, such as sales of the gifted real property acquired from second degree relatives, selling real estate acquired individually before marriage, and restitution of real property with a borrowing name to register.

In tandem with the Legislature’s passage of an amendment to the luxury tax law last December, MOF listed 11 types of realty transactions as of non-speculative nature and not subject to a higher tax rate.

Transactions exempted from the luxury tax scheme include: sales of self-used immovable property acquired individually before marriage; sales of real property gifted by second-degree relatives (such as siblings) as long as the property was previously owned by relatives for more than two years; restitution of real property with a borrowing name to register; sales of the swapped parking space which is included in realty transactions acquired more than two years and which belongs to the same building or same community; sales of real estate acquired as a compensation for the damage in a car accident for the purpose of funding medical expenses; and sales of land acquired in accordance with the Article 37 of Utilization and Transfer of Reserved Mountainous Land.


Updated : 2021-09-26 18:17 GMT+08:00