Taiwan MOF Clarifies Filing Requirements for House, Land Transactions Income Tax Returns

The Taiwanese Ministry of Finance Oct. 1 clarified the filing requirements for house and land transactions income tax returns. The clarification includes that: 1) any individual, whether they are Taiwanese or a nonresident, who has income or losses derived from transactions of house and land acquired on or after Jan. 1, 2016, must file an individual house and land transactions income tax return within 30 days from the day after the house and land ownership transfer registration is completed; 2) nonresidents who transfer properties subject to house and land transactions income tax must file returns within 30 days from the ...