self-use residences for household registration 結果共1筆

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.