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進入《TAIPEI TIMES 焦點》 Government is mulling capital gains tax: Chang
By Amy Su / Staff reporter
The Ministry of Finance is considering adopting a separate taxation system for capital gains on property transactions, Minister of Finance Chang Sheng-ford （張盛和） said on Friday.
The ministry’s plan to tax capital gains on property transactions is to be based on the value of buildings and any land attached, and is expected to emerge by the end of this year and be submitted to the Legislative Yuan for review early next year, Chang said.
“The details of the proposal still have to be finalized by the Executive Yuan,” Chang said at a news conference.
At two previous conferences Chang had said the ministry has decided to tax capital gains on property investment by a separate taxation system, instead of combining the tax with consolidated income tax.
In addition, the ministry plans to maintain the land value increment tax, but use a deduction method to avoid double taxation, while the privileged rate of land value increment tax that a person only receives once in a lifetime is to be kept, he added.
Lai Cheng-i （賴正鎰）, head of the General Chamber of Commerce and chairman of Shining Group Inc （鄉林集團）, has expressed worries that the housing market in Taiwan could face a crash if the government insists on the plan to impose a capital gains tax on property transactions.
However, Chang disagreed with that view, saying that major economies have adopted similar taxation systems on property transactions and none of their housing markets have shrunk due to the imposition of the tax.
Even a “soft landing” in the housing market, with property prices moving mildlylower would benefit the nation’s economy, he said, because it would help prevent households from suffering high-mortgage payments and depriving their consumption of other daily necessities.
Chang also said that the government’s plan on the new tax has been the main reason for the recent contraction in turnovers in the housing market.
“Without the plan, housing prices would have risen again this year,” he said.
新聞來源：TAIPEI TIMES
