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Experts divided on efficacy of new housing and land policy draft
03/11/2021 10:25 PM
CNA photo March 11, 2021
Taipei, March 11 (CNA) Large housing developers and experts in the field of real estate expressed divergent opinions as to the impact of a draft amendment passed by the Executive Yuan and intended to rein in real estate speculation Thursday.
Earlier in the day, the Cabinet approved a draft amendment to the Income Tax Act that will adjust the integrated house and land sales tax so real estate sellers face heavier taxes if they sell property within a fixed period of time.
Under the bill, private individuals and institutions face a 45 percent tax on property transaction gains on homes or land sold within two years of purchase an extension from the current one year. ....

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