Taxpayers wishing to apply for the cancellation of the prohibition of disposition of their property may provide collateral as security from a third party at a value equivalent to the amount of the tax
The National Taxation Bureau of the Northern Area (NTBNA), Ministry of Finance states that an inquiry was recently made: There is a prohibition on disposition of his real estate; however, he is in urgent need of capital and wishes to sell the real estate in a hurry. Can he take a collateral as security provided by a third party of the tax payable and apply for the cancellation of the prohibition of disposition of his real estate?
The NTBNA explains that, in accordance with Paragraph 1, Article 24 of the Tax Collection Act and Decree No. 10304044180 issued by the Ministry of Finance on May 25, 2005, where a taxpayer fails to make a due tax payment, the tax collection authorities may, upon informing the taxpayer in writing on the reason of the prohibition and the administrative relief procedure at the same time, notify the government authorities concerned to prohibit the taxpayer from transferring or creating other rights over the property of the taxpayer at a value equivalent to the amount of the outstanding tax payable. If the taxpayer wishes to transfer his property or create other rights over it, he/she must make full payment of the tax payable or provide a collateral as security at a value equivalent of the amount of the tax payable so that the tax collection authority will then notify the government authorities concerned to cancel the prohibition of the property. The said equivalent collateral as security, according to the Decree No. 30397 issued by the Ministry of Finance on January 19, 1982, includes collateral provided by a third party.
The NTBNA would like to remind taxpayers to pay the tax in full before the deadline after receiving the tax bill issued by the National Tax Bureau. If their real estate is prohibited from disposal by the National Tax Bureau and they are in urgent need to transfer the real estate, they can take the collateral as security provided by a third party at a value equivalent to the amount of the tax payable and then apply for the cancellation of the prohibition of disposal of their real estate. If you have further questions, please dial the toll-free service number 0800-000321 for inquiries and NTBNA will provide you with dedicated service.
News contact: Ms. Wu, Section, Head, Collection Division.
Tel. No. 03-3396789, Ext. 1591
Reference URL：https://www.mof.gov.tw/Eng/singlehtml/f48d641f159a4866b1d31c0916fbcc71?cntId=0999bafe06bd4b60b090ffbf207114a5