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| Republic of China Ministry of Finance | |
|---|---|
| Agency name | Ministry of Finance (Republic of China) |
| Native name | 財政部 |
| Formed | 28 March 1912 (precedent), reorganized 1947 |
| Jurisdiction | Republic of China (Taiwan) |
| Headquarters | Zhongzheng District, Taipei |
| Minister | (see list) |
| Parent agency | Executive Yuan |
Republic of China Ministry of Finance is the cabinet-level agency responsible for taxation, fiscal policy, government revenue, and public finance in the Republic of China (Taiwan). It operates within the Executive Yuan alongside ministries such as the Ministry of Economic Affairs (Taiwan), Ministry of Finance (People's Republic of China) as a counterpart across the Taiwan Strait, and cooperates with international institutions like the International Monetary Fund, Asian Development Bank, and World Bank. The ministry's remit intersects with entities including the Central Bank of the Republic of China (Taiwan), the National Development Council (Taiwan), and the Financial Supervisory Commission (Taiwan).
The ministry traces institutional roots to fiscal offices established under the Provisional Government of the Republic of China (1912) and the Beiyang Government, evolving through the Northern Expedition and the Nanking Decade. After the Second Sino-Japanese War and the Chinese Civil War, the ministry relocated with the Government of the Republic of China to Taiwan following the Battle of Taiwan Strait era transitions. Postwar reforms were influenced by economic models and advisers associated with figures such as Chiang Kai-shek and technocrats educated in institutions like National Taiwan University and foreign centers such as Harvard University and London School of Economics. During the post-1949 period the ministry collaborated with ministries including the Ministry of Finance of the Republic of China (pre-1949) predecessor offices and adapted policies responding to events such as the Oil Crisis of 1973, the Global Financial Crisis of 2007–2008, and accession-era negotiations related to the World Trade Organization.
Administratively the ministry is structured into departments and bureaus modeled on counterparts such as the United States Department of the Treasury and the Ministry of Finance (Japan). Senior leadership includes a Minister, Vice Ministers, and department directors appointed under the Executive Yuan framework. Divisions include taxation, treasury, financial management, budget, customs, and international fiscal affairs, interfacing with agencies like the National Taxation Bureau of Taipei and the Customs Administration (Taiwan). The ministry maintains regional branches and liaison offices to coordinate with provincial-level authorities such as the former Taiwan Province Government and local governments including the Taipei City Government and the Kaohsiung City Government.
Primary responsibilities encompass formulation of tax policy, administration of customs duties, management of national treasury operations, issuance of government debt, and oversight of fiscal relations with institutions such as the Legislative Yuan and the Control Yuan. It administers taxation instruments affecting entities like China Airlines, Taiwan Semiconductor Manufacturing Company, and financial institutions regulated by the Financial Supervisory Commission (Taiwan). The ministry designs measures responding to fiscal shocks linked to events such as the Asian financial crisis, supports social programs coordinated with the Ministry of Health and Welfare (Taiwan), and manages state assets including enterprises formerly under the Taiwan Tobacco and Liquor Corporation.
The ministry prepares the national budget submitted to the Legislative Yuan and implements fiscal policy that interacts with monetary policy set by the Central Bank of the Republic of China (Taiwan). Fiscal instruments include tax codes, budgetary appropriations, and sovereign debt issuance under legal frameworks such as the Budget Act (Taiwan). Budgetary cycles reflect macroeconomic data from agencies like the Directorate-General of Budget, Accounting and Statistics and respond to shocks linked to global events such as the COVID-19 pandemic and trade dynamics exemplified by agreements like the Cross-Strait Service Trade Agreement. Debt management draws on practices shared with entities like the Ministry of Finance (Singapore) and multilateral lenders including the International Monetary Fund.
Affiliated organs under the ministry include the National Taxation Bureau, the Customs Administration (Taiwan), the National Property Administration (Taiwan), the Fiscal Information Agency (Taiwan), and the Bank of Taiwan in its state-linked capacities. It maintains ties with state-owned enterprises such as the Taiwan Power Company, China Steel Corporation, and the Taiwan Sugar Corporation through stewardship and divestiture programs. Collaborative partners span quasi-governmental bodies like the State-owned Enterprise Commission and academic institutions including Academia Sinica and National Chengchi University.
Major reforms have included tax code modernization, electronic invoicing initiatives in partnership with private firms like Foxconn and Fubon Financial Holding Co., customs modernization aligned with World Customs Organization standards, and public asset privatization programs similar to measures adopted by the Privatization Commission (Taiwan). Policy initiatives targeted corporate tax rate adjustments affecting conglomerates including Uni-President Enterprises Corporation and measures to incentivize industries such as the semiconductor sector represented by TSMC. Fiscal transparency and anti-corruption coordination involves institutions like the Agency Against Corruption and legislative oversight from the Legislative Yuan.
The ministry engages in bilateral and multilateral fiscal dialogues with partners including the United States Department of the Treasury, the Ministry of Finance (Japan), and regional frameworks involving the Asian Development Bank and the Asia-Pacific Economic Cooperation forum. It negotiates tax treaties and information-exchange mechanisms inspired by the OECD Model and participates in transfer pricing discussions, customs cooperation, and anti-money laundering frameworks tied to standards from the Financial Action Task Force. Cross-strait fiscal contacts occur in parallel with trade and investment dialogues involving the Straits Exchange Foundation and economic agencies addressing issues related to entities such as China Airlines and cross-border supply chains anchored by firms like Pegatron.
Category:Government ministries of Taiwan