Taiwan Plans to Tax Real Estate by Transaction Prices

Oct. 4 (Bloomberg) -- Taiwan plans to tax real estate based on transaction prices in stages instead of reference figures, Chang Sheng-ford, deputy finance minister, said by phone today.

The government now calculates the tax based on its assessment of the property, Chang said, which are usually lower than market prices. There is no fixed timetable for the new levy, he said.

To contact the reporter on this story: Adela Lin in Taipei at alin95@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net