Breaking News, World News and Taiwan News.

Realtors believe recent tax rate reduction will boost sales

Real estate agents believe the recently announced tax cuts would help them increase their sales.

Tsai Chi-yung, Sinyi Realty Estate director of research, said yesterday the money saved in the tax reduction will be channeled into investment in quality real estate.

Sinyi is one of Taiwan’s top real estate companies.

The government increased income tax reductions, raised the exemption of inheritance tax to NT$12 million and that of gift tax to NT$2.2 million.

Before, they were NT$7.79 million and NT$1.1 million, respectively.

The purpose of the government in raising the exemptions is to induce Taiwan investors overseas to plow their money back to the island, Tsai said.

Most of them are likely to choose real estate for investment, Tsai predicted. “Why,” he said, “investment in other assets is too risky, now.”

In particular, Tsai said, idle capital overseas would not go to Taiwan’s stock market.

“We have every reason to believe that the tax cuts would boost the public confidence in the realty industry,” Tsai pointed out.

His prediction may not be borne out, however.

The money saved is more likely to go to bank savings accounts, just as it did in Japan after nearly a trillion dollars were pumped into the pockets of its taxpayers by the government in the last decade.

Subscribe to The China Post and save 25%. Click here
Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
Sponsors
Save 70% for hotel in Shanghai and 6000 hotels, in Beijing, Guangzhou, Shenzhen, and all China.
Get the best deals for Guangzhou Hotels or choose from more than 10,000 hotels in 499 Chinese cities.
Find great real time deals on China Flights. Book flights to China or China domestic flights 24/7.
Buy china wholesale products from reliable chinese wholesalers on DHgate.com!
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   English Courses  |   Terms of Use  |   Sitemap
  chinapost search