2011-09-19
Income from Renting Empty House to Low or Middle Income Tenants may be Exempt from Income Tax
Taiwan’s Council for Economic Planning and Development (CEPD) is planning to submit a draft to encourage landlords to rent empty houses to persons with low- or mid-level incomes by exempting such rental income from income tax.
This plan is still being evaluated by the CEPD, the Ministry of Finance and the Ministry of the Interior. Details of the plan, such as whether there will be any limitation on the amount of exemption, or whether there should be any restrictions regarding what type of landlords may enjoy such exemption, are still being discussed.
Statistics made by the Construction and Planning Agency shows that there are currently 880,000 empty housing spaces in Taiwan, of which 130,000 are within the administration zone of New Taipei City. Taipei City also has 69,000 empty spaces within its administration zone. Mr. Wen-long Shi, Vice Director of the Construction and Planning Agency, said that if the Ministry of Finance determines that this proposal is practical, it will be included in the new Overall Housing Policy to provide persons with low- or middle-incomes more housing options.
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