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International Fiscal Cooperation and Exchanges

I. Active Engagement in the Signing of International Fiscal Cooperation Agreements (Memorandums of Understanding) and the Implementation of Cooperative Activities
II. Reception and Arrangements for the Visits by Foreign Financial Delegations
III. Coordination for the Attendance of Officials of the Ministry of Finance at APEC
IV. Active Participation in International Conferences

 

I. Active Engagement in the Signing of International Fiscal Cooperation Agreements (Memorandums of Understanding) and the Implementation of Cooperative Activities

A. The MOF is active in the signing of fiscal cooperation agreements with other countries and in the promotion of international fiscal cooperation. These agreements help to strengthen substantive relationships with other countries in the fields of finance, taxation and customs.

B. In order to establish institutional pathways for interacting and a collaborative platform, Agreement on Public Finance Cooperation between the Government of the Republic of China (Taiwan) and Government of Saint Vincent and the Grenadines was signed on July 16, 2019. It strengthens the substantial cooperation of public financial affairs, and consolidate the friendships of both sides.

C. In order to strengthen the cooperative relationship between Taiwan and Vietnam in the field of public finance, Memorandum of Understanding on Financial Cooperation between the Taipei Economic and Cultural Office in Vietnam and the Vietnam Economic and Cultural Office in Taipei was signed on September 8, 2011. The action plans formulated jointly under the aforesaid MOU for related cooperation activities have served to promote the exchange and sharing of experiences in the areas of public finance, taxation and customs, and to facilitate a substantial and close fiscal cooperative relationship between the two sides.

D. In order to establish a mechanism for systematic and periodic exchanges of experiences, the Agreement on Public Finance Cooperation between the Government of the Republic of China (Taiwan) and the Government of the Republic of Palau was signed on October 6th, 2022. Through sharing experiences in fiscal discipline, public debt management, tax systems, and digitalization of tax and customs administrations, both sides will work together to achieve fiscal sustainability as well as to create a well-rounded trade and investment environment for their people and enterprises.

 

II. Reception and Arrangements for the Visits by Foreign Financial Delegations

The MOF coordinates the visits by foreign financial delegations to strengthen interaction with foreign fiscal officials and enhance financial relations with the relevant countries.The MOF learns of the latest fiscal situation of other countries through having face to face conversations with foreign delegations, and exchanges views on our fiscal policy and measures to foster international fiscal exchanges.

 

III. Coordination for the Attendance of Officials of the Ministry of Finance at APEC

The MOF transacts and coordinates the affairs related to participation in the APEC Finance Ministers' Process (FMP) with attendance at APEC meetings include the Finance Ministers' Meeting, Finance Deputies' Meeting, Senior Finance Officials' Meeting and related workshops. By attending this multi-member regional conference, we keep in touch with and make a contribution to the direction of the major trends in the area of tax, finance and economic development in the Asia-Pacific region, and are active in looking to work together in cooperation with other APEC member economies.

 

IV. Active Participation in International Conferences

To advance international fiscal cooperation and exchanges, the MOF actively participates in international conferences held by international organizations such as the Organization for Economic Co-operation and Development (OECD) and the International Fiscal Association (IFA). We exchange experiences of the fiscal and taxation system with fiscal officials, experts and scholars from other countries to master the trends in finance- and tax-related matters, and put forward proposals which are tailored to the domestic situation for use as a reference in the formulation of fiscal policy.

 

Issued:Dept. of International Fiscal Affairs Release date:2019-11-08 Last updated:2023-09-21 Click times:1821