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Q:
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What is the regulation of deduction from loss of oversea property transaction in Taiwan?
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A:
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To whose losses incurred from oversea property transaction, the losses is deductible from the oversea earnings at the same year. However, the total amount of losses is not able to exceed the gross amount of earnings. The profit and loss shall be calculated with the original price and closing price as well as be verified by the revenue services authority.
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Q:
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Is it possible to deduct the losses from the income of property transactions in Taiwan within the upcoming 3 years?
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A:
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The related article to deduct losses from property transactions in the upcoming 3 years is not written and enacted in Income Basic Tax Act, so those who face the losses incurred from oversea property transaction are only allowed to deduct them at the same year.
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Q:
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Is it possible to exempt the tax incurred from the income of oversea securities transactions in Taiwan?
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A:
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According to the revision of Income Tax Act in Item 1 of Article 4, the exemption from the income of domestic securities transactions by 2013 was removed and no related articles of such exemption are regulated to apply to.
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Q:
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What kinds of conditions to declare the tax incurred from income of property and land transactions for individuals?
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A:
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From 01/01/2016, to whom transacted the houses, lands or claims of houses as the following houses (Hereinafter called “Housing Lands”), except for those who is qualified for exemption of declaration, the income or losses from transaction shall be declared, regardless of the tax payable incurred. Housing Lands, the based location of house or the lands with the license of construction issued by laws shall be declared upon the following terms:
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1.
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The lands and houses were claimed by 01/01/2016.
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2.
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The land and houses were owned within 2 years from 02/01/2014.
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The scope of houses is not included the construction of farmhouse and farming facility applied for under Agricultural Development Act.
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Q:
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What is the unit of declaration for individual housing land in Taiwan?
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A:
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The unit for declaration is individual who claims the rights of transaction of his/her housing lands. Every transaction shall be declared respectively to avoid the said declaration being merged into the individual income tax to declare. To whose transaction of housing lands is dealt in several times, the date of each deal shall be filled out in the declaration form separately and declaration shall be proceeded jointly.
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FAQ
