Financial Asset Securitization Act Article 38

For the asset transfer made in accordance with the asset trust securitization plan approved by or effectively registered with the competent authority pursuant to this Act, the taxation shall be dealt with as follows:1. Except for the deed tax payable by the Trustee when it disposes of real estate, the stamp duty, deed tax and business tax imposed on the asset transfer shall be exempted.2. With regard to the amendment registration of real estate, real estate mortgages, movable properties subject to registration requirements and various security interests, the Trustee may apply to the competent registration authority for registration; the registration fees shall be exempted if the relevant certificate issued by the competent authority is presented.3. If the Trustee acquires land by way of foreclosure of mortgages, the certificate of payment of land increment tax need not be submitted when applying for amendment registration. The tax payable upon transfer shall be borne by the original owner of such land pursuant to relevant laws. However, when the Trustee disposes of such land, the competent tax authority will have priority to collect the tax from the sale proceeds of such land for the tax payable by the original owner.When the Trustee transfers the trust property to another SPC in accordance with the asset trust securitization plan, the preceding paragraph shall apply mutatis mutandis to the registration and taxes related to the asset transfer.