2016 ITA to close with fruitful success
The closing ceremony of the 2016 International Taxation Academy held on September 2nd at the Training Institute, MOF was presided over by the Minister of Finance, Mr. Sheu Yu-Jer. In the ceremony, the Minister awarded certificates of completion to the participants in the program.
This year, the courses focused on (1) Tax Treaties, (2) Transfer Pricing, and (3) Base Erosion and Profit Shifting. High-level government officials from ten countries including Bulgaria, Burkina Faso, the Dominican Republic, Indonesia, Kosovo, Papua New Guinea, the Philippines, Saint Vincent and the Grenadines, Swaziland, and Thailand participated in the Academy, along with 49 local participants.
Minister Sheu expressed gratitude to the Southern Methodist University School of Law for helping the MOF in inviting internationally renowned taxation experts to lecture on the course. He also expressed appreciation to the Ministry of Foreign Affairs for assisting foreign participants to travel to Taiwan and take part in the Academy.
Minister Sheu stressed that to comply with the global developments in international anti-avoidance and with regards to increased demand for tax transparency brought by the OECD Base Erosion and Profit Shifting (“BEPS”) action plans and Panama Papers event, the Ministry of Finance continued its proposal to introduce anti-avoidance rules through amendments to the Income Tax Act. On July 12, 2016, the Legislative Yuan passed the third reading of the Income Tax Act, which includes amendments (i.e., Article 43-3 and Article 43-4) incorporating Controlled Foreign Company (“CFC”) and Place of Effective Management (“PEM”) rules in response to the international anti-avoidance trend.
Our government advocates the fostering of international taxation dialogues by hosting international training seminars such as the Academy to share taxation experiences and expertise among tax officials and experts.
(Emily Chen 886-2-86632399Ext.205)