Taiwan's Wealth Gap Widens
According to the latest stats from the Ministry of Finance, the wealth gap in Taiwan has further widened, with the average income of the richest families growing to more than 6.3 times that of the poorest, while the national per capita income has declined. And experts observe that the polarizing trend is most clearly reflected in the skyrocketing real estate prices of metropolitan areas.
According to a new Ministry of Finance study, Taiwan's average per capita income has fallen in recent years.
Among the highest and lowest income classes, income declined by 2.43% and 7%, respectively, from 2008 to 2009 while the wealth gap increased from 6.05 times to 6.34 times.
Taiwan's metropolitan real estate prices highlight this problem, and Taipei's luxury condominiums continue to sell for record-breaking prices.
Legislators say that the MOF cannot use actual transaction prices to assess taxes, and that the ministry will not be able to implement its proposed real estate speculation tax.
In response, the MOF says that it is assessing the feasibility of amending property tax regulations, slashing the property price evaluation period from three years to one year, and including property location in value assessments.
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