The Act provides that specifically selected goods and services tax shall be levied on real property held for short-term trade but not for personal use. Title owners who sell houses and their bases or urban land with legally issued construction licenses and land in non-urban industrial zones (except those tax-exempted items listed in Article 5 of the Act) within the Republic of China within 2 years of possession shall pay specifically selected goods and services tax as prescribed by law.
(Articles 1 and 2 of the Specifically Selected Goods and Services Tax Act)