Ministry of Finance: Large Tax Cases Decline, Land Value Tax Down 8.9% in First Five Months

(Central News Agency, Taipei, June 11) The Ministry of Finance today announced national tax revenue statistics. In the first five months of the year, housing market-related tax items showed mixed results, with Deed Tax increasing 6.9% year-on-year and Individual Housing and Land Integrated Tax decreasing 7.6% year-on-year. Additionally, affected by a decline in real estate transaction volume and large tax cases, Land Value Tax decreased 8.9% year-on-year.

Liu Xun-rong, Deputy Director of the Ministry of Finance's Statistics Department, stated that observing the housing-related tax items in May, aside from the Individual Housing and Land Integrated Tax which saw a larger decline of 14.4% year-on-year in net realizable revenue, Land Value Tax increased 2.5% year-on-year and Deed Tax increased 3.7% year-on-year, showing slight growth. In the first five months, net realizable Deed Tax revenue increased 6.9% year-on-year, the decline in Land Value Tax narrowed to 8.9%, and Individual Housing and Land Integrated Tax decreased 7.6% year-on-year.

Regarding individual tax items, Liu explained that net realizable Land Value Tax revenue in May was NT$5.5 billion, a decrease of 2.6% compared to April. Results varied by city and county, with Taipei City (up 33.4% year-on-year) and Hsinchu City (up 146.3% year-on-year) seeing increases mainly due to higher tax revenue from large cases, while Taichung City (down 21.3% year-on-year) and Miaoli County (down 62% year-on-year) saw larger decreases.

Liu explained that net realizable Land Value Tax revenue for the first five months was NT$27.7 billion, a decrease of 8.9% year-on-year, with the decline gradually narrowing. Among the six special municipalities, Taichung City and New Taipei City saw larger decreases, while the only municipality with an increase was Taipei City, up 12.8% year-on-year.

Regarding Deed Tax, Liu stated that net realizable revenue in May was NT$1.3 billion, an increase of 3.7% year-on-year, marking three consecutive months of positive growth. Taichung City and Kaohsiung City saw larger increases, mainly due to large tax cases and contributions from new construction handovers, while New Taipei City and Taoyuan City saw larger decreases.

Net realizable Deed Tax revenue for the first five months was NT$6.6 billion, an increase of 6.9% year-on-year. Taipei City and Tainan City saw larger increases, while Taoyuan City saw a larger decrease.

Regarding Individual Housing and Land Integrated Tax, Liu stated that net realizable revenue in May was NT$4.2 billion, a slight decrease of 1.8% compared to April. Among the six special municipalities, New Taipei City (down 41.8% year-on-year) and Taichung City (down 24.5% year-on-year) saw the largest decreases, while the only municipality with an increase was Taipei City (up 25.7% year-on-year). Net realizable revenue for the first five months was NT$18 billion, a decrease of 7.6% year-on-year. Taichung City and Taoyuan City saw larger decreases, while Taipei City saw the largest increase. (Editor: Yang Lan-xuan) 1150611