2011-09-26
Taiwan Collects NT$ 377 Million in Luxury Tax
The Taiwan Government started in June of this year to impose a luxury tax of 5% - 20% on yachts, private aircraft, and luxury cars and homes. The Ministry of Finance has announced that as of 8 September 2011, it has collected taxes totaling the amount of NT$ 377 million (approximately US$ 12.57 million), excluding luxury properties, with the majority coming from upscale automobiles totaling NT$ 376 million.
Taiwan Customs officials indicate that a 2,000cc or bigger car with duty-paid price exceeding NT$ 1.8704 million (US$ 62,333) or a sub-2,000cc car with a duty-paid price of above NT$ 1.9452 million (US$ 64,840) are subject to the luxury-tax. According to the statistics of the Directorate General of Customs in Taiwan, the major items subject to luxury tax are such high-end imported cars.
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