Land Tax Act Article 31-1

For land that is not subject to the land value increment tax according to the provisions of Article 28-3, when ownership is transferred, Dien rights are established, or the land is converted into trustee's own land according to Paragraph 1 of Article 35 of the Trust Law, the original land value for calculating the total amount of the increment and imposing the l and value increment tax shall be based on either the assigned land value prior to the first non-taxable status of land value increment tax or the last declared transfer present value assessed for land value increment tax purposes. However, for the cases meet the provisos of Paragraph 2 or Paragraph 3 of Article 39, the determination of the original land value shall be determined accordingly.If a trust established by a will uses land as the trust property at the time of its establishment, and the land is subject to land value increment tax as described in the preceding paragraph, its original land value shall refer to the assessed present value on the date of the testator's death.When land owned by the settlor is transferred into a trust, and the trust contract explicitly specifies that the beneficiary is the settlor who enjoys all the benefits of the trust, if the beneficiary dies during the trust relationship, and if the land is subject to land value increment tax in accordance with the first paragraph, the original land value shall refer to the assessed present value at the date of the beneficiary's death. However, this does not apply if the settlor uses the trust contract improperly to evade or reduce tax obligations for themselves or others.For land mentioned in the first paragraph, when calculating the land value increment tax, if the settlor or trustee has paid improvement costs for the land as specified in Subparagraph 2 of Paragraph 1 of Article 31, or additional land value tax as specified in Paragraph 3 of the same article before or during the trust relationship, the deductions or offsets as provided in that article shall apply. For the land mentioned in the second and third paragraphs, if the trustee pays the aforementioned costs and land value tax after the death of the testator or beneficiary, the same deductions or offsets shall apply.The provisions of the preceding two paragraphs apply to cases that the land value increment tax has not been levied or tax amount not finalized at the effective date of the amendment of this Act on July 1, 2015.