Taiwan MOF Clarifies Real Estate, Land Integration Tax Incentive for Individuals on House, Land Repurchases

The Taiwanese Ministry of Finance Feb. 13 clarified the real estate and land integration tax incentive for individuals on replacement purchases of houses and land for self-occupation. The clarification includes that: 1) individuals can take a deduction, or apply for a tax refund, under the Income Tax Act if within one year before the original property’s sale, they actually lived in it without renting it out and completed household registration on it, and if they purchase the replacement property within two years of the original property’s transfer, regardless of whether they buy first; 2) the replacement property must continue to ...