Taiwan to allow local governments to reinstate tax on idle land
Taiwan plans to allow local governments to reinstate a tax on idle land held by property developers as soon as the end of this month, in the island's latest effort to rein in rising property prices, an official from the Ministry of Finance said Monday.
Taiwan should tax the rich more, said Chang, pointing out that the average tax rate for rich people in Taiwan is 7 or 8% which is much lower than for the average person.