MOF to form task force to decipher leaked papers

Taiwan News
Date: 2016-04-06
By: George Liao, Taiwan News, Staff Writer

Minister of Finance Chang Sheng-ford said on Wednesday that the Ministry of Finance (MOF) will form a task force to investigate Panama Papers files in connection with Taiwanese clients to understand if any of them were involved in tax evasion.

Chang said that the task force will begin with those who have strong possibility of committing tax evasion and will exclude government officials, scholars and individuals.

The reason to exclude them is because they usually are not very rich people and therefore have low possibility of using tax heavens, Chang added.

Some Taiwanese enterprises set up offshore companies for the purpose of indirectly investing in China during the era when direct investment in China was not legally allowed, while some set up offshore companies solely for the purpose of evading tax, he said.     [FULL  STORY]