Taiwan Explains Offset of Losses When Selling Real Estate Subject to Different Rates of Tax on House and Land Transactions

Taiwan's Ministry of Finance has issued a notice explaining that when an enterprise sells real estate subject to different rates of tax on house and land transactions during the year (due to different holding periods), losses arising from the sale of properties subject to one rate must first be offset against income (gains) from the sale of other properties subject to the same rate. For resident enterprises (addressed in the notice), the tax rates are as follows, depending on the holding per…