The Property Rental Market Development and Regulation Act (租賃住宅市場發展及管理條例), which is to give tax deductions to landlords who entrust their properties to a management facility, was passed by the Legislative Yuan yesterday.
The rule was proposed by the Ministry of the Interior to encourage landlords to use professional management firms so they would be encouraged to lease properties to meet a growing demand for rentals.
Under the act, landlords who hire firms to manage their rental properties will be exempt from paying income taxes on the rent they collect if the monthly rent is under NT$6,000, and will be given a 47 percent tax deduction if the monthly rent is between NT$6,000 and NT$20,000.
Properties that command monthly rents of more than NT$20,000 will not qualify for tax deductions, the act states.
Local governments should formulate bylaws to grant landowners who meet those conditions tax deductions for up to five years, and the Executive Yuan could extend the tax deductions offer by another five years, the act states.
The act also includes provisions to provide landlords and tenants with more protection after a rental agreement is signed.
Landlords are to be prohibited from charging tenants surety bonds more than the sum of two months’ rent and those who run misleading or deceptive advertisements for their properties could be fined between NT$10,000 and NT$50,000.
Tenants may end their rental agreements if their landlord fails to fix problems with the rental properties, the act states.
Property owners may terminate a lease if a tenant is late with the rent for up to two months, subleases the property to a third party without obtaining the landlord’s consent or refuses to pay for damages they cause, the act states.
The ministry is to help landlords and landowners in establishing non-profit organizations to resolve disputes, offer legal advice and translation services, and answer queries about insurance packages, the act stipulates.
Lawmakers also passed an amendment to the Act Governing Relations with Hong Kong and Macau (香港澳門關係條例) aimed at reducing the tax burden on Taiwanese sea and air carriers operating in the two territories.
The legislation came on the heels of the passage of an agreement this month that prevents repeated levying of business and income taxes for Taiwanese sea and air carriers operating between Taiwan and Macau.
Mainland Affairs Council Minister Katharine Chang (張小月) during preliminary reviews said that the amendment would provide the nation with a legal basis when negotiating mutually beneficial tax rates with Hong Kong and Macau, which is expected to boost the competitiveness of Taiwanese sea and air carriers, and attract foreign investment.
Taiwan is to receive the first batch of Lockheed Martin F-16 Block 70 jets from the US late this month, a defense official said yesterday, after a year-long delay due to a logjam in US arms deliveries. Completing the NT$247.2 billion (US$7.69 billion) arms deal for 66 jets would make Taiwan the third nation in the world to receive factory-fresh advanced fighter jets of the same make and model, following Bahrain and Slovakia, the official said on condition of anonymity. F-16 Block 70/72 are newly manufactured F-16 jets built by Lockheed Martin to the standards of the F-16V upgrade package. Republic of China
Taiwan-Japan Travel Passes are available for use on public transit networks in the two countries, Taoyuan Metro Corp said yesterday, adding that discounts of up to 7 percent are available. Taoyuan Metro, the Taipei MRT and Japan’s Keisei Electric Railway teamed up to develop the pass. Taoyuan Metro operates the Taiwan Taoyuan International Airport MRT Line, while Keisei Electric Railway offers express services between Tokyo’s Narita Airport, and the Keisei Ueno and Nippori stations in the Japanese capital, as well as between Narita and Haneda airports. The basic package comprises one one-way ticket on the Taoyuan MRT Line and one Skyliner ticket on
Many Japanese couples are coming to Taiwan to obtain donated sperm or eggs for fertility treatment due to conservatism in their home country, Taiwan’s high standards and low costs, doctors said. One in every six couples in Japan is receiving infertility treatment, Japanese Ministry of Health, Labour and Welfare data show. About 70,000 children are born in Japan every year through in vitro fertilization (IVF), or about one in every 11 children born. Few people accept donated reproductive cells in Japan due to a lack of clear regulations, leaving treatment in a “gray zone,” Taichung Nuwa Fertility Center medical director Wang Huai-ling (王懷麟)
PROXIMITY: Prague is closer to Dresden than Berlin is, so Taiwanese firms are expected to take advantage of the Czech capital’s location, the Executive Yuan official said Taiwan plans to boost cooperation with the Czech Republic in semiconductor development due to Prague’s pivotal role in the European IC industry, Executive Yuan Secretary-General Kung Ming-hsin (龔明鑫) said. With Taiwan Semiconductor Manufacturing Co (TSMC) building a wafer fab in the German city of Dresden, a Germany-Czech Republic-Poland “silicon triangle” is forming, Kung said in a media interview on the weekend after returning from a visit to Prague. “Prague is closer to Dresden than Berlin is, so Taiwanese firms are expected to take advantage of the Czech capital’s location,” he said. “Taiwan and Prague have already launched direct flights and it is
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