The Equalization of Land Rights Act Article 47-2

Whenever the land is exempted from the levy of the land value increment tax, the competent taxation authorities shall approve the current transaction value and issue a certificate of tax exemption, according to the following provisions, for the registration of change in land ownership:1.For public lands exempted from the land value increment tax according to the provisions of Article 35, the actual sale price shall be the criterion for approval. But for the land donated by or to the government at various levels, “the publicly announced current land values” at the date when the donation contract is certain shall be the base for the transfer according to the criterion.2.For lands exempted from the land value increment tax according to the provisions of Paragraph 1 of Article 35, “the publicly announced current land values” at the date when the donation contract is certain shall be the criterion for approval.3.For inherited lands exempted from the land value increment tax according to the provisions of Article 36, “the publicly announced current land values” at the date when the inheritance starts shall be the criterion for approval.4.Lands for compensation exempted from the land value increment tax according to the provisions of Paragraph 2 of Article 42-1, the land values of the imputed land actually received back shall be the criterion for approval.