The number of incidents of major tax evasion last year dropped to 915, while unpaid taxes eased to NT$89.51 billion (US$2.75 billion), as some evaders chose to cooperate while the tax recovery period expired for others, the Ministry of Finance said yesterday.
The ministry has since July 1, 2010, published a list of top tax evaders annually in hopes of pressuring them to pay their dues.
Major tax evaders are people and companies that owe the government more than NT$10 million and NT$50 million respectively in back taxes.
Photo: Tsai Ching-hua, Taipei Times
The list this year is similar to previous years, with late business tycoon and socialite Huang Jen-chung (黃任中) topping the list, owing NT$1.94 billion in estate tax. His older sister, Huang Hsin-ping (黃新平), ranked third, with NT$1.26 billion in back taxes.
His son, Huang Juo-ku (黃若谷), who had NT$1.9 billion in back taxes, was removed from the list after the recovery period expired in 2022, the ministry said.
There is little the ministry can do about the Huang family, as they do not own properties in Taiwan that the government can take, the ministry has said, adding that they would seek assistance at home and abroad once it finds traces of taxable assets.
The Kaohsiung-based family of real-estate businessman Huang Cheng-chih (黃承志) remained second, with NT$1.51 billion in unpaid income and estate taxes. He was the former head of Fu Yow Enterprise Co (婦幼實業) and was charged with fraud in 2001. Huang Cheng-chih has since fled to China.
Hsu-Cheng Wen-wen (許鄭溫溫) is new to the list, with back taxes of NT$521 million. She was the wife of Cosmos Bank (萬泰銀行) founder and chairman Hsu Sheng-fa (許勝發), who passed away in 2019. The court last year handed down a ruling on Hsu-Cheng’s case and confirmed she was the inheritor of her husband’s estate.
As for corporate tax evaders, Holiday Inn Asiaworld Taipei (環亞飯店), which changed ownership and became Illume Taipei (茹曦酒店), topped the list with NT$2.18 billion in back taxes, ministry data showed.
Asiaworld Taipei was followed by two Taichung-based nightclubs owing NT$1.16 billion and NT$1.09 billion in back taxes each.
The maximum tax recovery period is 15 years, following legal revisions in 2007, Huang Jen-chung’s case would stay valid until 2032, as the revision does not apply to old cases.
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01