Tax windfall of NT$100 mil. from real estate speculation

The China Post News Staff

TAIPEI, Taiwan — Thirty cases of speculation in real estate are to make up tax discrepancies that amount to NT$100 million, said Chang, Sheng-ho, deputy minister of the Ministry of Finance. Chang also said that the National Tax Administration has initiated a full-scale inspection on short-term trading of real state. The result of the first round of inspections should come out by January 7, 2011. So far, the 30 cases of speculation have made the amount of tax evasion soar up to NT$100 million.

Yesterday, Chang reported the management of the 30 cases as a response to inquiries from legislators Lai Shih-pao and Lo Shu-Lei at the finance committee of the Legislative Yuan. Both legislators were concerned about the taxation of rampant speculation. Chang said that this wave of tax inspections aims at speculation in short-term trading. Purchase of real estate for residences is not included.