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Taiwan Clarifies Limits on Deductions for Losses from Overseas Property Transactions for Income Basic Tax Purposes

|Approved Changes|Taiwan
Taiwan

Taiwan's Ministry of Finance has issued a notice to clarify that deductions for losses from overseas property transactions by resident individuals are limited to income from such transactions in the same year for income basic tax (alternative minimum tax) purposes and may not be carried forward.

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Deductions for Losses from Overseas Property Transactions Are Limited to Income from Overseas Property Transactions in the Same Taxable Year

The National Taxation Bureau of the Southern Area…

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