Budget | Chen Maobo: Research on Progressive Rates, Hope to Help Tenants Non-Middle Class

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Written by: Li Enci

2021-02-27 10:28

The last update date: 2021-02-27 10:28

Financial Secretary Chen Maobo announced his budget this Wednesday (24th). He said on the TV and Taiwan program this morning (27th) that the government is studying the introduction of progressive rates, that is, the rates of higher-value properties. Will be higher.

He said that the government hopes to help tenants or make adjustments in the rental market. "Those who can pay more" is one of the tax collection directions.

He emphasized that the relevant policy is not "slaying the middle class." The government intends to introduce tax concessions for self-occupied properties. I believe it will help the middle class to reduce their burden. As for owners of multiple properties collecting rent, they should not mind paying more rates.

Chen Maobo said that it has requested a review of the rates system, including studying the introduction of progressive rates, that is, higher-value property units will have a higher rates collection rate, and studying exemptions or reductions for owner-occupiers who pay rates while paying rates. The main legal liability will be considered to be transferred from the property user to the owner.

In the past, rates were sometimes paid by the tenant and sometimes by the landlord. Even if the landlord was required to pay, it would be passed on to the tenant.

Chen Maobo said that the government hopes to help tenants by reviewing the system to make tax collection more precise.

He admitted that the new arrangements may make adjustments in the rental market, but he believes it will not have a major impact.

Chen Maobo continued, "Those who have the ability to pay more" is one of the principles of tax collection. Does that amount to an attack on the middle class?

He emphasized that "this is not the intention, but the line is drawn." The government intends to introduce concessions for self-occupied properties. I believe it will help the middle class to reduce the burden. As for owners who collect rents from many properties, they should not mind paying too much. Pay rates.

As for the specific collection rate, it is still too early to say.

Chen Maobo also denied that progressive rates are equal to capital gains tax.

He explained that the capital gains tax is a tax on the difference between the sale and purchase of a property, and the progressive rate is a tax on the continued ownership of assets.

He also said that rates reduction and exemption in the catering industry are difficult because there are ground shops, shopping malls, industrial shops, etc., and the processing is more complicated.

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