萬國法律事務所

Taiwan’s Ministry of Finance announced in December 2005 that the values of certain items covered under the Estate and Gift Tax Act (at Paragraph 1 of Article 12-1) will in the future be adjusted to keep pace with the inflation index.

The Ministry of Finance explains that when the accumulated rise in the consumer price index surpasses by more than ten (10%) percent the index at the time of the prior adjustment, the tax exemption, tax brackets, value of daily necessities of the decedent and any equipment which the decedent used in a professional capacity that are not included in the total value of the estate, deduction for surviving spouse, lineal descendents, parents, siblings, and grandparents of the decedent, standard deduction for funeral expenses, and special deduction for handicapped heirs will be, per the amount of inflation at the start of the following year, adjusted.