萬國法律事務所

The Executive Yuan recently completed draft revisions of the Real Estate Brokerage Act, which will require all brokers to register online the amount of each transaction of sale or rental of real estate within 30 days after the registration of the ownership of property is made or the rental agreement is signed. This draft, however, does not require the broker to register the detailed information of the transaction. Thus, the broker does not need to provide the lot number, the building address, or information that could be used to show the identity of the buyer or the seller. As such, the tax authority will not be able to track the actual selling price of a specific piece of real property via the online registration. Nevertheless, the broker will be required to register the transaction amount along with the area where the transaction takes place. Thus, in the long run, the tax authority can still estimate the value of each area of real property by collecting and analyzing the information provided by brokers when calculating the relevant taxes.