KMT owns largest assets of all political parties in Taiwan

According the newest poll, Kuomintang (KMT) has become the most popular party in Taiwan, with a support rate of 23.1 percent, followed by the ruling Democratic Progressive Party (DPP) with 14.6 percent.

Taipei, July 13 (CNA)-The opposition Kuomintang (KMT) still has the most assets of any political party in Taiwan, the Ministry of the Interior (MOI) said Friday, citing the latest political party assets declaration data.

Speaking at a news conference, Deputy Interior Minister Lin Tzu-ling (林慈玲) said the assets declared by the KMT, including real estate, total about NT$18.98 billion (US$622 million), topping the list of the 95 political parties that have made valid declarations under the Political Parties Act.

The large assets owned by the KMT left its counterparts far behind, according to the data released by the ministry.

The KMT said however in a statement that all of its assets are now frozen by the authorities under the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations.

The ruling Democratic Progressive Party (DPP) was in second place, declaring NT$769 million in assets, ahead of the New Power Party, which held NT$27.58 million in assets and the New Party, which owned NT$16.14 million in assets, Lin said.

It was the first party assets declaration since the Political Parties Act took effect Dec. 6, 2017.

The ministry said the law is aimed at boosting the transparency of the country’s political parties.

Under the law, every political party must declare its assets by May 31 each year to the MOI and the ministry will release the results 45 days after the deadline.
According to the MOI, a total of 301 political parties registered with the ministry are required to declare their assets. So far, 163 have made declarations, but only 95 provided sufficient data.

The 68 parties that have failed to complete their declarations must come up with more data to meet the assets declaration rules by Jan. 15, the MOI said.

The ministry said the common flaws in the declarations include a lack of accountants’ certification, failure to use a required format, and calculation errors. The MOI said 138 parties that have not declared their assets will also have to make their declarations by Jan. 15.

The ministry said those political parties that fail to declare their assets by the deadline will face fines ranging between NT$1 million and NT$5 million, while those that fail to submit enough or correct data by the deadline will be subject to fines of between NT$200,000 and NT$1 million, the MOI said.