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Lack of Tax Registrations in Old Houses Affects the Collection of Land Value Increment Tax

The Taichung City Government Local Tax Bureau said that if owners of old houses have not completed house tax registration, it will deeply affect future collection of land value increment tax as owner-occupied residential land.
The Bureau expressed that house owners did not register at the Local Tax Bureau because the current value of their houses are not high enough to warrant paying the house tax. They only come and register when they need to sell the property in order to be applicable to the discounted rates of land value increment tax as owner-occupied residential land. However, if the owner cannot provide proof to his house’s date of completion, the date of inspection by tax officials will be used. The house will then be treated as being less than 1 full year under registration. This fact coupled with the fact that the assessed value of the house will be less than 10% of current land value, the owner-occupied residential land rates will not be applicable to land value increment tax collection. The Bureau reminds citizens that owners of unregistered old houses should actively register their property with the Local Tax Bureau if they have not already done so in order to protect their own rights.
If there are any further questions, please call the Bureau’s free number: 0800-086969 or (04) 22585000 ext.1 for the customer service center.
  • Data update: 2018-11-19
  • Publish Date: 2016-04-01
  • Source: Local Tax Bureau
  • Hit Count: 254