The Executive Yuan passed a draft bill of the amended “Specifically Selected Goods and Services Tax Act” on December 19, 2013. The draft bill proposes a minor expansion in the scope of taxable goods and services, a further tightening of certain exemptions, and authorizes the Ministry of Finance to promulgate further exemptions if necessary. Highlights include:
- adding “non-urban industrial land where building permits can be issued” as a new taxable item;
- further tightening the “residential house swap” exemption, requiring proof of actual residence; and
- authorizing the Ministry of Finance to further promulgate exceptions if necessary.