Early Years of the Republic of China

The organization of the Ministry of Finance was provided for in several provisions of the Outline of the Organization of the Provisional Government of the Republic of China.

July 1925

An independent organic law, the “Organic Act of the Ministry of Finance of the National Government,” was promulgated. It stipulated that the Ministry of Finance was directly subordinate to the National Government and was responsible for administering the National Government’s financial affairs, handling government budgets and final accounts, and supervising the finances of its subordinate agencies.

1926

The General Administration of Salt Affairs, the General Administration of Taxes, and the Anti-Smuggling and Merchant Protection Administration Committee were established.

August 1927

The Organic Act was amended, stipulating that the Ministry was responsible for taxation, the national treasury, public debt, currency, accounting, disbursement, and all other fiscal affairs in the various provinces and districts, as well as for supervising the finances of its subordinate agencies and public organizations.

May 1928

The Organic Act was amended for the third time to establish the Department of General Affairs; the Department of Currency was subsequently reorganized for a period as the Bureau of Financial Supervision. In October, the “Organic Act of the National Government of the Republic of China” was promulgated, under which the National Government was reorganized and the Five Yuans were established. The Ministry of Finance was consequently placed under the Executive Yuan and was responsible for administering national financial affairs. In December, the “Organic Act of the Ministry of Finance” was enacted and promulgated, establishing two administrations (Customs Administration and Salt Administration) and nine departments (General Affairs, Taxation, Public Debt, Currency, National Treasury, Accounting, Tobacco and Alcohol Tax, Stamp Tax, and Rolled Tobacco and Kerosene Tax); in addition, the Anti-Opium Department was abolished.

May 1929

The Organic Act of the Ministry of Finance was amended for the first time. As the collection of the kerosene tax was transferred to the Maritime Customs, the former Rolled Tobacco and Kerosene Tax Department was renamed the Rolled Tobacco Consolidated Tax Department.

February 1931

The Organic Act of the Ministry of Finance was amended for the second time, changing the title of “Permanent Deputy Minister” to “Administrative Deputy Minister.”

July 1936

The Organic Act of the Ministry of Finance was amended for the third time. The former Salt Administration was renamed the Department of Salt Administration. The Ministry of Finance then consisted of two administrations (Customs Administration and Taxation Administration) and seven departments (General Affairs, Salt Administration, Taxation, Public Debt, National Treasury, Currency, and Accounting).

March 1940

The Organic Act of the Ministry of Finance was amended for the fourth time, converting the Department of National Treasury into the National Treasury Administration and renaming the Direct Tax Affairs Department as the Direct Tax Department.

November 1941

The Organic Act of the Ministry of Finance was amended for the fifth time, changing the title of “Director of Statistics” to “Chief Statistician” and adding several editors and translators.

March 1943

The Organic Act of the Ministry of Finance was amended for the sixth time, restructuring the Ministry into five administrations (the National Treasury Administration, Direct Tax Administration, Customs Administration, Taxation Administration, and Anti-Smuggling Administration) and nine departments (Currency, Public Debt, Salt Administration, Monopoly Enterprises, Local Finance, General Affairs, Personnel, Accounting, and Statistics).

Post-Constitution Period (1943–1981)

The organization of the Ministry of Finance continued under the previous system. From 1943 to 1981, the Organic Act was not formally amended through legislation.

February 1981

The Organic Act of the Ministry of Finance was amended for the seventh time, stipulating that the Ministry’s internal structure consisted of seven departments (Customs Administration, Monetary Affairs, General Affairs, Secretarial, Personnel, Accounting, and Statistics) and the Legal Affairs Committee.

May 1991

The Organic Act of the Ministry of Finance was amended for the eighth time, reorganizing the Department of Monetary Affairs as the Bureau of Monetary Affairs, an administrative agency under the Ministry, and establishing the Department of Insurance as an internal unit of the Ministry in place of the former Insurance Section under the Department of Monetary Affairs.

July 1, 2004

Upon the enforcement of the Organic Act of the Financial Supervisory Commission, Executive Yuan, the Commission was formally established on the same day. The former Department of Insurance of the Ministry of Finance, the Bureau of Monetary Affairs of the Ministry of Finance, and the Securities and Futures Commission of the Ministry of Finance were placed under the Financial Supervisory Commission, Executive Yuan, and respectively became the Insurance Bureau, Banking Bureau, and Securities and Futures Bureau. In addition, following the transfer of shares, the Central Deposit Insurance Corporation was placed under the Financial Supervisory Commission effective January 1, 2011.

January 1, 2013

In coordination with the reorganization of the Executive Yuan, the Organic Act of the Ministry of Finance was amended for the ninth time. The Organic Act of the Ministry of Finance and the general rules governing the organization of its subordinate third-level agencies were promulgated or amended by Presidential Order on February 3, 2012, and took effect on January 1, 2013 pursuant to an Executive Yuan order. The Ministry is in charge of national finance and is responsible for national treasury and payment operations, taxation, customs affairs, national property, fiscal information, promoting private participation in infrastructure projects, and supervising training institutions for financial personnel under the Ministry.