In line with the government's efforts to dampen short-term realty speculation, the TNTA has set its crosshairs on presales of housing units in recent months, finding over 40 cases of tax evasion by those who profited from the short-term transfer of their ownership of presale housing units. The TNTA has collected fines of NT$110 million and short-paid taxes of NT$230 million.
TNTA officials said that one buyer of a luxurious home managed to rake in profits of up to NT$50 million within only eight months.
The buyer ordered a presale luxurious housing unit from the upscale Yuanta I Pin Building in downtown Taipei at a price of NT$125 million in March 2007, but transferred the ownership to another person at the price of NT$180 million eight months later, after paying only NT$12 million to the development company during the construction period.
Another buyer put down only NT$2 million for each of five presale housing units priced at NT$16 million each in February 2008, but the buyer managed to offload two of the five only three days later at NT$18 million apiece, translating into a net profit of NT$2 million for each house sold.
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