Does Taiwan tax law allow deferment of capital gain taxes on a residential property if you use the proceeds to purchase a second (more expensive) property with the capital gains?
To add some numbers:
Assume I bought my apartment for 1,700,000 today and sold it for 2,700,000 next month and then purchased a 4,000,000 property shortly after, could I defer taxes on that 1,000,000 of capital gains until I sold that second property?
If so, would my basis in the second property simply be reduced by 1,000,000 (to 3,000,000)? Or is there a more complicated calculation of what my future tax liability will be? Thanks!