Enforcement Rules for the New Town Development Act Article 34

The “reduction or exemption of housing tax and deed tax after completion of buildings within a new town special area” as mentioned in Paragraph 1, Article 25 of the Act refers to reduction or exemption of house tax and sale contract tax for the buildings finished within a new town special area after the Act is issued within 5 years commencing from granting of use ; and the reduction or exemption of land price tax refers to reduction or exemption of land price tax for the buildings finished within a new town special area after the Act is issued within 5 years commencing from the tax levy interval of the day when the use is granted.The “reduction or exemption of sale contract tax may be offered only once” refers to the reduction or exemption of the contract tax for the first time of sale transfer after the buildings are finished. Upon granting building use licenses, the authority in charge of construction of a new town special area shall mark the licenses with texts like buildings in new town special area. For reduction of tax, the taxpayer shall submit the photostat copy of the building use license and other related certification documents to the regulating taxation department at the location of the lands or buildings to apply.