Regulations for the Exemption on House and Land Transactions Income Tax


new system of House and Land Transactions Income Tax is to prevent short-term speculation of real estate, improve the real estate tax system, and promote the normalization of housing and land transactions. However, in order to protect the need for self-occupation, for the self-occupied property transaction, if the individual, or the spouse and minor children, with household registration at the self-used house, owns and resides in the property for more than 6 consecutive years, does not use the property for lease, business operation or professional practice purposes within six years prior to the transaction, and does not apply for tax exemption for owner-occupied residence transaction within 6 years prior the transaction, income tax can be exempted for taxable income within the scope of 4 million New Taiwan dollars.

The Bureau reminded that even if people meet the tax exemption requirements, they should still file the return within 30 days from the next day after the transfer registration date of the house or land ownership or the transaction date of the house use right, in accordance with the Income Tax Act, to protect themselves from punishment.


 


 

Contact: Miss Wang, the Revenue Officer of the Second Legal Affairs Division

Tel: 07-7256600 ext.8752

Reference URL:https://www.mof.gov.tw/Eng/Detail/Index?nodeid=319&pid=86496