In the case of replacing old house with a new one, the owner may apply for tax refund for the consolidated income tax as well as the land appreciation value taxes paid if the purchase price for the new house is higher than the selling price for the old.
According to Taiwan’s tax laws, filings of both the consolidated income tax and land appreciation value tax are required when selling a house together with the land.
However, the tax refund for the consolidated income tax and land appreciation value tax is available if the sales of the previous residential house is for purpose of replacement and within two years, whether it’s 'buy-first-and-sell-later' or 'sell-first-and-buy-later' scenarios.
The requirements are summarized below:
I. Consolidated Income Tax
II. Land appreciation value tax
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Provided by Kingdoms Law