The Ministry of the Interior yesterday said the 127 political parties that have yet to declare their finances should do so before the deadline on Tuesday, or face a fine of NT$1 million to NT$5 million (US$32,487 to US$162,433).
The Political Parties Act (政黨法), which came into effect in December 2017, mandates that political parties have to make financial declarations each year, with fines levied on parties that fail to comply after warnings, the ministry said.
The ministry in July last year extended the deadline from May 31 to Tuesday, as officials felt that parties should have more time to adjust to the new regulations, it said.
However, 127 parties have not made declarations, while the declarations of 47 parties failed to meet regulatory standards, which is more than half of the 301 registered parties, it said.
The parties that made declarations that did not meet regulatory standards must resubmit them or face a fine of between NT$20,000 and NT$1 million, it said, adding that if another invalid declaration is submitted, the same fine would apply.
Furthermore, the act superseded portions of the Civil Association Act (人民團體法), so parties established prior to the promulgation of the Political Parties Act must bring their charters, organizations and bylaws up to code, it said.
Although failure to comply could result in governmental proceedings to abrogate the party, only eight parties of those affected have made the necessary changes, it said.
The remaining parties are called upon to make the changes and register with the appropriate district court, the ministry said.
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