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On 27 June 2012, the Executive Yuan ordered that the following amendments to laws take effect on 1 August 2012: Articles 47 and 81-2 of the Equalization of Land Rights Act (平均地權條例), Articles 26-1, 51-1 and 52 of the Land Administration Agent Act (地政士法), and Articles 24-1, 24-2 and Subparagraph 2, Paragraph 1, Article 29 of the Real Estate Brokering Management Act (不動產經紀業管理條例), all of which were amended on 30 December 2011.
The purpose of 30 December 2011 amendments are to set up a registration system under which real estate buyers, land administration agents (i.e., scriveners) or real estate brokers must register the actual purchase price of the real property within 30 days of the closing of the transaction. However, the registered actual purchase price may not be used as the basis to levy taxes.
