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Concerning houses and lands traded by individuals within the scope of new taxation system, if the taxpayer suffers from a loss from the transaction and therefore fails to declare the House and Land Transactions Income Tax, what kind of penalty will be imposed on the taxpayer?
Concerning houses and lands traded by individuals within the scope of new taxation system, a declaration must be made to all traded subjects regardless the loss or profit of the transaction, except for lands and land improvements as specified in Subparagraphs 2 to 4, Paragraph 1, Article 4-5 of Income Tax Act. The said declaration must be made within 30 days after the next day of the property rights transfer date. Taxpayers who fail to make a declaration will be penalized with a fine of NT$3,000 to NT$30,000 in accordance with Article 108-2 of Income Tax Act.
Issuing Unit：National Taxation Bureau of Taipei
Publish date：2019-08-20
View Date：2019-08-20
Update Date：2019-08-20
Rate：443