自1956年開始,依據平均地權條例,土地增值稅乃以申報地價為稅基,然而當時的資料顯示,申報地價與土地買賣市價差異甚遠,於是在1968年時,土地申報地價改以當時公告地價以計算繳納的土地增值稅,因此,相較於1956年,公告地價與當時土地買賣價格之差異顯著縮小。再於2005年,土地增值稅率由40%、50%和60%調降為20%、30%和40%,稅率調降20%促進與活絡房地產業蓬勃發展,房屋價格不斷攀升。2010年遺產稅率降低,稅率由最高稅率50%降低為10%單一稅率,同時並將遺產稅免稅額由779萬元提高為1,200萬元,促進海外資金回流台灣,造成台灣房地產價格不斷的上漲。房地合一稅之制定過程之中,影響最大的與預期相符,營建業真的是受房地合一稅影響大之產業,而營建業真的會產生負向之異常報酬與累積異常報酬,此結論也即為本文之貢獻所在。
Since 1956,according to Equalization of Land Rights Act, Land value increment tax are based on Declaration of the Value of the Land,but,on that time,data shows Declaration of the Value of the Land and sales on lands price are difference very far,so,in 1968,land declaration changed to government published land value to calculate Land value increment tax, therefore, compared to 1956, Declaration of the Value of the Land and sales on land price difference reduced significantly,then,in2005, Land value increment tax from 40%、50% and 60% cut off to 20%、30% and 40%,the tax rate cut to 20% and the active promotion of the booming real estate industry, house prices continue to rise, in 2010 inheritance tax cut off from the maximum rate of 50% is reduced to a single rate of 10%, while the estate tax and the allowance from 7.79 million yuan raised to $ 12 million to promote the flow of capital overseas in Taiwan, Taiwan causing real estate prices continue to rise.The relationship between Stock Return and the Formulation Process of Integrated Housing and Land Taxation, the greatest impact in line with expectations, the construction industry is really one big tax impact of the premises by the industry, and the construction industry will really produce the negative abnormal returns and cumulative abnormal return this conclusion is the contribution of the thesis.