Promotional videoMinistry of Finance

The Ministry of Finance is in charge of national order to support national development and to ensure sound and sustainable finance. The MOF is based on the core values of innovation employment, and equitable distribution to perform its six main tasks. Public finance management, tax administration, customs administration, national property management, promotion of private

The ministry of finance is in charge of motional finances the major role of the mof is to raise financial resources to support national development in order to bring soundness to national finances and fulfill our vision of support construction with public finance and raise public finance with construction the mof sets a comprehensive structure for its six main

Tasks of public finance management tax administration customs administration public asset management the promotion of private participation in infrastructure projects and the handling of international fiscal affairs fiscal soundness is the foundation of national economic development public finance management includes the management of fiscal revenue and expenditure

Government debt local finance tobacco and alcohol administration and supervision of the public welfare lottery f acts in compliance with the budget act which states that current revenues and expenditures of the government shall be balanced if there is a surplus it may be used for capital expenditures and in recent years there has been a current surplus insufficient

Amounts of capital expenditure may be freed by public debt under the condition that the balance may not exceed 40% of the average gnp of the previous three years pursuant to the public debt act and our amount of debt is adequate in comparison with international levels the purpose of expanding public expenditure is to build and renew infrastructure so as to benefit

Current and future generations and the projects will be funded by public debt thus allowing the burden between the different generations to be more equal in order to bring soundness to local finances the mof uses the allocation of centrally funded tax revenues and subsidies to moderate local finance support local development and encourage local fiscal efforts the

Mof also conducts a program for assisting local government finance to develop local financial resources and enhance local fiscal autonomy in addition the mof also works to strengthen the administration of tobacco and alcohol products and supervises the public welfare lottery to promote social welfare in line with the golden decade plan announced by the president

A program to ensure sustainable development has been put into place and the mof will continue in the promotion of tax and fiscal reforms based on related fiscal strategies ensuring sound finance supports economic development tax administration to build a high-quality and more convenient and effective tax environment currently there are 18 taxes in taiwan revenue

See also  Economic Impact Assessment: Motorcycle (Okada), Tricycle ban - Financial Derivatives

From taxes comprises about 72% of net government revenues of all levels revenue from income tax is about 42 percent of the total tax revenues comprising the largest share and revenue from business tax he’s about 16 percent total revenue from direct taxes he’s about 60 percent of total tax revenues the average annual tax burden in taiwan has been twelve point

Eight percent in the past five years lower than that of other major countries tax revenues are from the people and for the people and the government nurtures a favorable investment environment and creates more jobs and a better quality of living through effective national budgeting in order to build a high-quality tax environment enhance competitiveness and

Develop a sustainable economy the mof emphasizes enhancing tax efficiency broadening tax base and streamlining tax administration we promote tax reform and streamline tax related laws and rules the national tax bureau’s examines significant tax evasion cases and pursues payment of tax revenues from major tax evaders to protect social justice each year the tax

Authorities handle about 26 million tax cases of which about 10,000 are subject to recheck the ratio of application for each egg is 0.04 percent which shows that the quality of tax auditing is high in line with the rapid development of information technology and public voices for more choice and diversity the mof in the spirit of service has established general

Service counters to provide more diverse services to the public and offers an e invoice platform and multiple ways by which tax payments may be made in order to provide further excellent service the mof continues to streamline tax administration for example we provide more than 460 online services including forms for download online search and application we also

Promote the filing of tax returns online almost 100% of business tax returns and profit seeking enterprise income tax returns and about 76 percent of individual income tax returns are filed online the more people who file online the fewer who have to wait in line which saves time and money and makes life easier and more convenient moreover in order to continue

To provide an excellent service we are promoting two measures proactiveness in providing the individual taxpayer with his or her information on deductions for individual consolidated income tax and the pre calculation service for individual consolidated income tax whereby if taxpayers confirm the calculation or pay tax as stated on the tax bills they are deemed

See also  Mariner Finance Can You Get a Loan for a Wedding

To have completed their income tax return filing these measures have saved much time and resources in filing and serve to reduce compliance costs the mof will work continuously to promote the re-engineering of tax information to reach the goals of being more convenient more innovative and more effective customs administration strengthening of customs management

And facilitating customs clearance revenue from customs duties is around 90 billion nt dollars annually the customs also collects 300 billion nt dollars in taxes and charges on behalf of authorized agencies and provides customs clearance services for thirty five million travelers and eight point five million containers a year in order to assist the traders in

Reducing logistics costs and increasing logistical efficiency through providing safer and more convenient customs clearance services the customs applies modern technology and risk management to simplify and standardize customs administration customs is working in cooperation with the licensing and harbour agencies to build a customs maritime trade single window

System and is implementing an a eeo system it also utilizes an rfid system an x-ray inspection machines and it uses detector dogs to assist in the interception of drug smuggling it takes only about thirty minutes on average for imports to go through clearance procedures and about 10 minutes for exports the tax refund shopping system enables foreign travelers

Leaving taiwan to obtain a vit refund on goods which they buy here and then take home activate utilisation of national property to realize the value of assets the my languages about eight point nine trillion nt dollars in public assets most of which are in form of land the mof uses development strategies such as the promotion of public-private partnerships to

Encourage the private sector to invest and so create a better quality of life for the people and the use of these strategies also allows the government to reduce the construction costs of infrastructure and to collect new legal fees and rents and thus increase revenue through innovations in the ways in which premises and land are used cross sector cooperation and

Land development programs we increase the self liquidation ratio encourage private sector participation and make use of private funds creativity and efficiency so as to accelerate the construction of public infrastructure in order to promote the sustainable operation of national assets and the sharing of the benefits with the people the management of public assets

Is integrated across regions and is utilized to create additional value enhance overall benefits in the construction of infrastructure and establish a new regime for fiscal management promotion of private participation in infrastructure projects to combine with private capital and enhance the effectiveness of infrastructure services with the promulgation of the act


For promotion of private participation in infrastructure projects in 2000 the government expanded the scope of infrastructure projects for private participation from transportation facilities power supply facilities and refuse incineration plants 220 items in 13 categories the pp ip act is a special law made by the government to facilitate private participation

In infrastructure projects the spirit of the law is founded in a desire to improve the quality of public services and establish partnerships between the government and private enterprises the government hopes to stimulate taiwan’s economy and help enhance the effectiveness of infrastructure services through the engagement of the private sector thereby creating a

Win-win-win scenario one beneficial to government enterprises and the general public international fiscal affairs signing of international agreements and promotion of international fiscal cooperation and exchanges in order to avoid double taxation reduce the uncertainty of the tax burden and investment risk ensure the interests of the people and companies enhance

The international competitiveness of taiwan businesses and enhance taiwan’s investment environment the mof is actively engaged in the conclusion of tax agreements with foreign countries we work to create a sustainable low tax environment to increase the willingness to invest with the growth in international trade customs cooperation agreements and young random

Of understanding on information sharing are signed to advance trade security and facilitation and enhance multilateral relationships in the field of trade and economy in addition we are active in the signing of the fiscal cooperation mo use with other countries and in promoting international cooperation and exchanges and we are also active in mastering world

Trends through interaction with relevant international organizations within the international fiscal system the mof also provides various international personnel and language training programs and cooperates with well-known universities and organizations to hold international workshops and conferences as part of the training programs for financial officers and

To create a platform for the exchange of experiences between international tax scholars experts and officials as well about 1,300 trainees participate in the training programs related to international affairs each year vision support construction with public finance and raise public finance with construction the vision of the mo f is support construction public

Finance raise public finance with construction sound finance is the foundation of economic development we persist in functional finance and work to sustain a balanced economy supported by sound finance to create a vigorous and sustainable economy

Transcribed from video
Promotional video:Ministry of Finance By 財政部財政人員訓練所