DEADLINE EXTENSION:The Ill-gotten Party Assets Settlement Committee set a new deadline, as some people might be unaware the law applies to them
Taipei Times
Date: Nov 02, 2017
By: Stacy Hsu / Staff reporter
Individuals or groups that served as a trustee to a political party or party-affiliated
Ill-gotten Party Assets Settlement Committee Chairman Lin Feng-jeng, center, and other members of the committee yesterday in Taipei explain the assets declaration requirements of the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations. Photo: CNA
organization have four months to declare their assets, or face a fine of up to NT$5 million (US$165,700), the Ill-gotten Party Assets Settlement Committee said yesterday.
Committee Chairman Lin Feng-jeng (林峰正) said that the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations (政黨及其附隨組織不當取得財產處理條例) stipulates that political parties, party-affiliated organizations and their current or former trustees are required to declare their assets within one year of the act’s promulgation on Aug. 10 last year.
“However, considering that the public might still be unfamiliar with the relevant statutes, the committee decided to extend the asset declaration deadline by four months. If you are required to file a report, but fail to do so before March 1 next year, a fine of between NT$1 million and NT$5 million will be issued,” Lin told a news conference in Taipei.
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