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.
PRICE HIKES: The war in the Middle East would not significantly disrupt supply in the short term, but semiconductor companies are facing price surges for materials Taiwan’s semiconductor companies are not facing imminent supply disruptions of essential chemicals or raw materials due to the war in the Middle East, but surges in material costs loom large, industry association SEMI Taiwan said yesterday. The association’s comments came amid growing concerns that supplies of helium and other key raw materials used in semiconductor production could become a choke point after Qatar shut down its liquefied natural gas (LNG) production and helium output earlier this month due to the conflict. Qatar is the second-largest LNG supplier in the world and accounts for about 33 percent of global helium output. Helium is
STRONG INTEREST: Analysts have pointed to optimism in TSMC’s growth prospects in the artificial intelligence era as the cause of the rising number of shareholders The number of people holding shares of chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) hit a new high last week despite a decline in its stock price, the Taiwan Depository and Clearing Corp (TDCC, 台灣集保) said. The number of TSMC shareholders rose to 2.46 million as of Friday, up 75,536 from a week earlier, TDCC data showed. The stock price fell 1.34 percent during the same week to close at NT$1,840 (US$57.55). The decline in TSMC’s share price resulted from volatility in global tech stocks, driven by rising international crude oil prices as the war against Iran continues. Dealers said
DOMESTIC COMPONENT: Huang identified several Taiwanese partners to be a key part of Nvidia’s Vera Rubin supply chain, including Asustek, Hon Hai and Wistron Nvidia Corp chief executive officer Jensen Huang (黃仁勳), addressing crowds at the company’s biggest annual event, unveiled a variety of new products while predicting that its flagship artificial intelligence (AI) processors would help generate US$1 trillion in sales through next year. During a two-and-a-half-hour keynote address, Huang announced plans to push deeper into central processing units (CPUs) — Intel Corp’s home turf — and introduced semiconductors made with technology acquired from start-up Groq Inc. The company even said it was developing chips for data centers in outer space. At the heart of Huang’s speech was the message that demand for computing power
OPTIMISTIC: Inflation still has a chance of remaining below the central bank’s 2 percent alert level, as Taiwan’s economy is resilient with healthy exports, the NDC minister said Taiwan’s inflation could exceed 2 percent this year if oil prices continue to surge amid escalating tensions in the Middle East, prompting the government to reassess its economic outlook, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. DGBAS Minister Chen Shu-tzu (陳淑姿) told lawmakers at a meeting of the legislature’s Finance Committee that the agency’s earlier growth forecast of 1.68 percent in the consumer price index (CPI) and 7.71 percent for GDP this year did not account for the ongoing Middle East conflict and would need revision, if tensions persist. The previous forecast assumed an average international crude price of