萬國法律事務所

Taiwan’s Executive Yuan has approved the proposed amendments of the “Land Administration Agent Act” and “The Equalization of Land Rights Act.” According to the draft, the actual value of real estate must be registered when a transaction of real estate is completed.

The Ministry of Finance asserts that the amendment will result in more transparency in real estate transactions, so as to accurately affect the assessed present value of such property. Although the “real estate’s actual value” and “assessed present value” are different, the purpose of the draft is simply to increase transparency in real estate transactions. The amendments are subject to further legislative process.