Taiwan and Mainland May Conclude Agreement on Double Taxation by Year-End

 Taiwan and Mainland May Conclude Agreement on Double Taxation by Year-End

Source: All Taipei News

Date: 2014.09.04

As consultations on the MTA (Merchandise Trade Agreement) will resume on September 10, Taiwan and the Mainland are holding other consultations on economic and trade agreements as well. A delegation from the Legislative Yuan, including KMT legislators Lai Shyh-bao (賴士葆) and Lu Shiow-yen (盧秀燕), and DPP legislator Lee Ying-yuan (李應元), is visiting the Shanghai Free-Trade Zone (上海自貿區) from September 3 to 5, in the company of Vice Minister of Finance Wu Tang-chieh (吳當傑) and Vice Chairman of Financial Supervisory Commission Huang Tien-mu (黃天牧). The delegation arrived in Shanghai yesterday and held conversations on a cross-Strait double taxation agreement with Duan Ji-Ning (段繼寧), an official of Mainland’s China Banking Regulatory Commission. A cross-Strait agreement on double taxation is expected to be concluded by the end of the year.

Lai stated that the two sides of the Strait were downplaying the impact of Chang Hsien-yao’s (張顯耀) alleged leaks of confidential information regarding cross-Strait negotiations. According to Lai, one of the Mainland officials in charge of cross-Strait affairs had commented that the Chang Hsien-yao case was merely a small ripple, and it would not hinder cross-Strait developments.

In addition, considering that the STA (Services Trade Agreement) might not be ratified by the Legislative Yuan before the November 29 local elections, Lai suggested that the financial services industry be separated from the STA. Because the financial services industry accounted for the largest part of the STA and thus carried the most significance to the economy, it must be ratified as soon as possible, Lai stressed. Moreover, Lai expressed confidence that the FEPZs (Free Economic Pilot Zones) Bill would be passed in the Legislature by the end of November because the ruling and opposition parties had reached a certain degree of consensus about the FEPZs and the financial industry.

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