The Ministry of Finance amended the Disposal Directions for National Land Located within the Space of Urban Renewal Enterprises to Strengthen the Participation of State-Owned Land in Urban Renewal Mechanism

The amended “Disposal Directions for National Land Located within the Space of Urban Renewal Enterprises” promulgated by the Ministry of Finance on June 2, 2017 (hereinafter referred to as the “Disposal Directions”) included a new provision that the participation of tax creditable land may take the form of allocation of royalties to accelerate the realization of receivable treasury fund. Where national land pertains to some business asset or special fund property, allocation of real property, land, or royalty upon urban renewal is optionable to help the recycling of funds. The allocated floor area of more than 2,000 square meters on national non-public use land, if any, may be assigned as a central government authority office premises upon evaluation after urban renewal. Notwithstanding, an allocated floor area of less than 2,000 square meters thereon or an allocated floor area which will not be applied as a central government authority office premises may serve the need for social housing upon evaluation of the central government authority and local competent authority in charge of housing, and the authorities shall pre-determine the purpose of the real property upon urban renewal, subject to the scale of the real property assigned after the urban renewal.
According to the National Property Administration, Ministry of Finance, upon the amendments to the Disposal Directions on December 4, 2014, it participated in the preliminary planning of the purpose of urban renewal. However, considering that the floor area assigned upon the renewal is of a specific scale and the area should serve as the office premises upon evaluation to meet the benefits, and in order to accelerate the disposal of change of some tax creditable land, special funds or business assets into the national non-public use land, the Administration allows the optionable allocation of royalty and re-amends the Disposal Directions. So far, the real property assigned upon the urban renewal has been generated from the cases processed before the amendments to the Disposal Directions on December 4, 2014. In order to revitalize those real property actively, the Administration has established an integrated platform for the requesting authorities. At present, it is planning to revitalize the real property by tendering or leasing, or in any other form, in order to strengthen the efficiency of application of national property and prevent idle real property from causing additional burdens to the Administration.

Contact Person: Inspector Hsu, Hui-Chuan
Contact No.: 02-27718121, Ext. 1325

2017-9-14  Ministry of Finance News


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