Taiwan MOF Clarifies Mortgage Interest Deduction Rules for Self-Use Houses

The Taiwanese Ministry of Finance May 9 clarified individual income tax mortgage interest deduction rules for homes for self-use. The clarification includes: 1) that taxpayers, spouses, or dependent relatives can apply for deductions on self-use house mortgage loans, with each household limited to one house; 2) that taxpayers taking the deduction this May on the income tax declaration, must meet requirements related to house registration, household registration, self-use, and proof of interest payment; 3) that the deduction is taken after deducting the special deduction for savings investment from the interest expense; 4) not to deduct the interest if it has ...