house tax 結果共6筆

The Taiwanese government has optimized the income tax system, allowing certain individuals and families to be exempt from income tax. Single individuals renting housing with a yearly income below NT$626,000 will not have to pay individual income tax when filing next year. Additionally, families with two parents and two young children and an annual income below NT$1.641 million will also be exempt. Approximately 47% or 3.05 million Taiwanese households were exempt from income tax in 2021 due to the optimized scheme, which includes increased deductions. Minister of Finance Chuang Tsui-yun clarified that this exemption is not due to poverty. The deductible amount for single individuals renting outside their home area making less than NT$626,000 could exempt them from taxes. For two-income families renting a house, the deductible amount on income tax could reach NT$1.072 million, while a family of four with two children under six could deduct up to NT$1.641 million. If they live with seniors aged 70 or older, the deductible amount could exceed NT$2 million.

Taiwan’s Legislative Yuan has passed a law amendment known as ＂Housing Tax 2.0,＂ which will raise the residential property tax. The new tax will take effect on July 1, 2024, with taxation beginning in 2025. The Ministry of Finance estimates that around 4.45 million households will be affected by the revised tax, with approximately 3.1 million households benefiting from a preferential tax rate for single residency. This could potentially generate an additional revenue of NT$2.27 billion to NT$3.27 billion. Under the new system, residential properties will be categorized as ＂self-use＂ or ＂non-self-use,＂ with a national limit of up to three properties classified as ＂self-use.＂ The house tax will continue to be collected annually from May 1 to May 31, based on ownership from the prior year’s July 1 to the current year’s June 30. The amendment also requires that ＂self-use＂ residences meet household registration requirements in addition to the existing provisions regarding rental and occupancy by the owner, spouse, or direct relatives. The tax reform will have a significant impact on 10 municipalities that have not yet implemented the housing hoarding tax. To support the legislative changes, four supplementary regulations will be introduced, including differential tax rate modules, calculation formulas, principles for determining the number of household property holdings, and revisions to the organization of the Real Estate Evaluation Committees. All subsidiary regulations are scheduled to be amended by July 1, 2024.

Taiwan’s Legislative Yuan has passed an amendment to the House Tax Act, known as the ＂House Hoarding Tax 2.0,＂ raising the tax rate for non-owner-occupied housing to a range of 2 to 4.8 percent, up from the current range of 1.5 to 3.6 percent. The tax rates will apply nationally to all properties owned by individuals and will be implemented by July 2025. Local governments will set their tax rate discrepancies based on the total number of residential properties owned nationwide. The amendment was approved in the Legislative Yuan session following negotiations among the Democratic Progressive Party (DPP), the Kuomintang (KMT), and the Taiwan People’s Party (TPP), with dissent from the New Power Party (NPP).

Vice Premier Cheng Wen-tsan expresses optimism about trade talks with the United States, citing U.S. Trade Representative Katherine Tai’s positive stance on advancing Free Trade Agreements (FTAs) with key trading partners. The discussions between Taiwan and the United States have made significant progress, with the US-Taiwan Initiative on 21st Century Trade already reaching five agreements. Second-phase talks, including agriculture, are currently underway. The possibility of addressing tariffs in the negotiations is not ruled out. Additionally, the U.S. House of Representatives has proposed mutual tax exemption to alleviate taxation burdens, a development that could spare corporations and individuals from double taxation issues. Cheng emphasizes the need for diligent and concerted effort in deepening economic ties between Taiwan and the United States.

Taiwan’s Executive Yuan approves amendments to the ＂House Tax Act,＂ targeting property hoarders and offering tax breaks to single-occupancy homeowners. Learn how these changes may affect 3.1 million households.

Recent data revealed that over 82,000 new houses were left unsold in the fourth quarter of last year, marking the highest number in eight years, as the housing market continued to slow down after the government passed the ＂House Hoarding Tax 2.0＂ in early July.