Taiwan Gazettes Presidential Decree Amending Residential Property Tax Regime

The Taiwanese Official Gazette Jan. 3 published Presidential Decree No. 11200115291, on amending residential property tax regime. The decree includes measures: 1) increasing the statutory residential property tax rates for non-occupied second homes and vacant residential properties, to a range of 2 percent to 4.8 percent, from a range of 1.5 percent to 3.6 percent; 2) requiring local governments apply specified differential rates for non-occupied and vacant residences; 3) reducing the tax rate to 1 percent from 1.2 percent for single owner-occupied homes; 4) reducing the maximum tax rate for rental properties and inherited co-owned houses to 2.4 percent from ...