The Chinese Nationalist Party (KMT) remained the nation’s richest political party last year with NT$18.1 billion (US$595.06 million) in reported assets, despite posting losses totaling NT$800 million since 2015, its financial statements to the Ministry of the Interior show.
Last year, the KMT posted an income of NT$1.48 billion and expenditures of NT$2.07 billion, its financial disclosures show.
Since 2006, political parties and organizations have been obliged to disclose their financial statements to the ministry in accordance with the Guidelines for the Financial Declarations of Political Parties and Political Organizations.
Photo: Cheng Hung-ta, Taipei Times
The financial declarations are considered public information and the reports are to be made available later this month on the ministry’s Web site.
The KMT’s assets continue to dwarf those of the nation’s other major parties, including the Democratic Progressive Party, which had a reported worth of NT$700 million last year, recording NT$800 million in income and NT$510 million in expenditures, its statements show.
The New Power Party (NPP), founded in early 2015, last year had a net worth of more than NT$20 million, with an income of NT$46 million and expenditures of NT$34 million, its statements show.
The KMT declared its holdings under the party-owned Central Investment Co Ltd (中央投資公司) and Hsinyutai Co Ltd (欣裕台), which were last year declared illicit assets by the Ill-gotten Party Assets Settlement Committee.
Central Investments and Hsinyutai last year had combined assets of NT$15.2 billion, NT$400 million less than 2015’s figures, the statements show.
The KMT also declared NT$100 million in real estate and land, NT$3 million less than the previous year.
In addition, the KMT registered NT$93 million in “current liabilities,” or debts it had to pay within 12 months, the statements show.
The liabilities were comprised of NT$90 million and NT$3 million in private loans that the KMT had borrowed from former chairwoman Hung Hsiu-chu (洪秀柱) and Vice Chairman Jason Hu (胡志強), which had been paid in full by auditing time.
The KMT’s estimated NT$2.07 billion in expenditures included more than NT$1 billion in personnel costs, NT$800 million in operational expenses and NT$162.36 million in outbound political donations and others.
The party’s NT$1.48 billion in revenue was mainly from income gained in trust funds which made up an estimated NT$956 million, or 64.65 percent of the total, it said.
The KMT also received NT$278 million in political subsidies, NT$122 million in political contributions, NT$116 million in membership dues and other sources, the statements showed.
Meanwhile, the financial statements of the National Women’s League indicate that the organization last year had assets worth NT$38.4 billion, including 13 parcels of real estate and NT$240 million in returns on investments.
The league’s financial disclosure forms to the government showed that its actual holdings in May last year exceeded the sum it claimed in February by NT$300 million.
At the time, the league told local media outlets that it had NT$38.1 billion in net worth, NT$2.8 billion of which was to be donated
Its financial statements showed that the league increased its holdings by NT$1.7 billion from May last year through May this year.
The Ministry of the Interior (MOI) is to tighten rules for candidates running for public office, requiring them to declare that they do not hold a Chinese household registration or passport, and that they possess no other foreign citizenship. The requirement was set out in a draft amendment to the Enforcement Rules of the Public Officials Election and Recall Act (公職人員選舉罷免法 ) released by the ministry on Thursday. Under the proposal, candidates would need to make the declaration when submitting their registration forms, which would be published in the official election bulletin. The move follows the removal of several elected officials who were
The Republic of China (ROC) is celebrating its 114th Double Ten National Day today, featuring military parades and a variety of performances and speeches in front of the Presidential Office in Taipei. The Taiwan Taiko Association opened the celebrations with a 100-drummer performance, including young percussionists. As per tradition, an air force Mirage 2000 fighter jet flew over the Presidential Office as a part of the performance. The Honor Guards of the ROC and its marching band also heralded in a military parade. Students from Taichung's Shin Min High School then followed with a colorful performance using floral imagery to represent Taiwan's alternate name
FOUR DESIGNATED AREAS: Notices were issued for live-fire exercises in waters south and northwest of Penghu, northeast of Keelung and west of Kaohsiung, they said The military is planning three major annual exercises across the army, navy and air force this month, with the navy’s “Hai Chiang” (海強, “Sea Strong”) drills running from today through Thursday, the Ministry of National Defense said yesterday. The Hai Chiang exercise, which is to take place in waters surrounding Taiwan, would feature P-3C Orion maritime patrol aircraft and S-70C anti-submarine helicopters, the ministry said, adding that the drills aim to bolster the nation’s offshore defensive capabilities. China has intensified military and psychological pressure against Taiwan, repeatedly sending warplanes and vessels into areas near the nation’s air defense identification zone and across
A Chinese takeover of Taiwan would severely threaten the national security of the US, Japan, the Philippines and other nations, while global economic losses could reach US$10 trillion, National Security Council Deputy Secretary-General Lin Fei-fan (林飛帆) wrote in an article published yesterday in Foreign Affairs. “The future of Taiwan is not merely a regional concern; it is a test of whether the international order can withstand the pressure of authoritarian expansionism,” Lin wrote in the article titled “Taiwan’s Plan for Peace Through Strength — How Investments in Resilience Can Deter Beijing.” Chinese President Xi Jinping’s (習近平) intent to take Taiwan by force
RSS