Making political donations to politicians or political parties is a common practice of businesses, but a Taipei-based lawyer has warned that donations that break the law could result in a hefty fine.
The Political Donations Act (政治獻金法) states when, how and to whom political donations can be made, lawyer and former prosecutor Weng Wei-lun (翁偉倫) said.
Making a donation outside of those stipulations could result in a fine of twice the amount of the donation, he said.
Photo: Wang Ting-chuan, Taipei Times
For example, only when a politician has registered as a candidate for a local or national election can donations be made, and the total amount of donations made by a business or individual to a single candidate cannot exceed NT$1 million (US$34,678) in the same election period, Weng said.
For firms and individuals who want to make donations to more than one candidate in the same election period, the total cannot exceed NT$2 million, he said.
Donations made by an individual or company to a political party in an election period cannot exceed NT$3 million, and the total amount of all donations to multiple parties in the same election period cannot exceed NT$6 million, he added.
To receive donations, the law stipulates that a politician must be running for president, a seat in the legislature, city or township mayor, county commissioner or borough warden, Weng said.
Those running for re-election can only accept donations within a certain time frame before the end of their term — one year for a president, 10 months for a legislator, eight months for a city mayor or county commissioner, and four months for a township mayor or borough warden — he said, adding that the politician must have registered as an election candidate to accept donations.
“Politicians seeking to accept donations must register a bank account with the Control Yuan to be used specifically for the purpose,” Weng said, adding that those donating must ensure they are sending the funds to that bank account and not the politician’s personal bank account.
Donations of more than NT$100,000 must be made by bank transfer or check, he said, adding that in no circumstances should the donation be given in cash.
Companies prohibited from making political donations include foreign-owned enterprises; businesses in which the government has a more than 20 percent stake; companies facing bankruptcy that have not repaid their creditors; and companies that are in the process of fulfilling government infrastructure contracts, Weng said.
Firms making donations under an alias cannot donate more than NT$10,000, while those run by foreigners or citizens under the age of 20 cannot make donations, he said.
Political donations can be claimed as a tax exemption of up to 10 percent of a company’s annual taxes, or NT$500,000, whichever is lower, Weng said.
If the tax exemption is claimed by the company owner for their personal taxes, the exemption can be up to 20 percent of their annual income, or NT$200,000, whichever is lower, he said.
Donations made to a politician’s personal foundation or an event they are hosting are not subject to the restrictions, but the firm or individual making the donation cannot make a request of the politician in exchange for the donation, he added.
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