The Enforcement Rules of the Land Tax Act Article 42

For any land transaction, a land value increment tax shall be imposed upon respective original land owners.For division of a land under ownership in common, the owner(s) whose acquired land value is equivalent to the pre-division value of their share of the land, said land value increment tax shall be exempted; where the value has decreased, the part of value reduced shall be imposed of a land value increment tax.For land value increment tax imposition in the event of division of a land under joint ownership, the provisions under the preceding paragraph shall apply mutatis mutandis.For a land consolidation, the co-owner(s) whose acquired land value is equivalent to the pre-consolidation value of the land shall be exempted of the land value increment tax. Where the value has decreased, the part of value reduced shall be imposed of a land value increment tax.The calculation of the land value described in the three preceding paragraphs, where it involves a co-owned land division or land consolidation, shall be based upon the assessed present value .