Article Content
Section VI: Calculations, Taxes, and Relevant Matters of Special Purpose Trust
| Article 36 |
（Production of statements）
The Trustee shall prepare the following documents regarding the trust property of the SPT and shall report same to the Trust Supervisor and notify all beneficiaries of the same within four (4) months after each fiscal year or after the complete implementation of the asset trust securitization plan:
1. balance sheet;
2. statement of income; and
3. report on the management and utilization of the trust property.
The content of the aforementioned statements shall not contain false statements or concealments. |
| Article 37 |
（Profit distribution）
Profits of the SPT shall be distributed in proportion to the Principal Holding of each beneficiary, unless otherwise provided for in the asset trust securitization plan. |
| Article 38 |
（Procedures for related taxes and fees for the transfer of assets）
For the asset transfer made in accordance with the asset trust securitization plan approved by or effectively registered with the competent authority pursuant to this Act, the taxation shall be dealt with as follows:
1. Except for the deed tax payable by the Trustee when it disposes of real estate, the stamp duty, deed tax and business tax imposed on the asset transfer shall be exempted.
2. With regard to the amendment registration of real estate, real estate mortgage, movable properties subject to registration requirement and various security interests, the Trustee may apply to the competent registration authority for registration; the registration fees shall be exempted if the relevant certificate issued by the competent authority is presented.
3. If the Trustee acquires land by way of foreclosure of mortgage, the certificate of payment of land increment tax need not be submitted when applying for amendment registration. The tax payable upon transfer shall be borne by the original owner of such land pursuant to relevant laws. However, when the Trustee disposes of such land, the competent tax authority will have priority to collect the tax from the sale proceeds of such land for the tax payable by the original owner.
When the Trustee transfers the trust property to other SPC in accordance with the asset trust securitization plan, the preceding paragraph shall apply mutatis mutandis to the registration and taxes related to asset transfer. |
| Article 39 |
（Transaction tax rate）
Other than Beneficial Securities being recognized as short-term bills by the competent authority, the trading of Beneficial Securities shall be subject to the securities transaction tax at the tax rate applicable to corporate bond. |
| Article 40 |
（Application of property income of special purpose trusts）
The revenues of the SPT property shall be subject to the business tax at the rate applicable to banks. |
| Article 41 |
（Beneficiary income tax）
The revenues of the SPT, after deducting the cost and expenses, shall be the beneficiaries' income and subject to the income tax on interest, and shall not be counted into corporate income of the Trustee.
When practically distributing the interest as referred to in the preceding paragraph, the Trustee shall withhold the income tax in accordance with the applicable withholding rate, and such interest shall be separately taxed and will not be consolidated into the gross personal income or gross corporate income of the beneficiaries. |
| Article 42 |
（Exclusions for requests for inspect, transcribe or make photocopies of account books）
Beneficiaries with three (3) or more percent of the total Principal Holding may request, the Trustee for reviewing, transcribing, or copying the account booklets, documents, and statements made in compliance with this Act and Article 31 of the Trust Act by enclosing reasons in written form.
The Trustee shall not refuse the aforementioned request, except for the following reasons:
1. such request is not made for the purpose of ensuring the rights of beneficiaries;
2. such request damages the SPT or the common interest of beneficiaries;
3. the person making such request is engaged in a business in competition with that of the SPT; or
4. the person making such request intends to disclose to a third party the information obtained from such review, transcribing or copying, or such person has a record of disclosing to a third party information from such review, transcribing or copying within the last two (2) years prior to making such request. |