Taiwan Considers Luxury Tax Rule Change to Curb Property Prices

Taiwan is considering changes in luxury tax rules to narrow the gap between property prices and incomes amid slower pace of economic expansion.

“Current rules have flaws, for example, we are unable to tax those deep-pocket investors, who can wait for more than two years to sell properties,” Finance Minister Chang Sheng-ford said in a briefing on July 26. Changes may include a levy on buyers of properties, he said. Sellers are already taxed.