Appendix
84
11. CONTRACTED PROJECTS EXPENSES
For the years ended
December 31, 2012
For the years ended
December 31, 2011
Contracted projcets expenses - MOFA
Personnel expense
$532,080,621
$582,927,339
Operating Expense
538,696,768
464,713,973
Travel and transportation expense
61,933,881
71,069,953
Equipment investment expense
28,191,488
38,023,803
$1,160,902,758
$1,156,735,068
12. INCOME TAX
Activities and related expenses of the TaiwanICDF are in compliance with “Standard for Non-profit Organizations Exempt
from Income Tax”. Accordingly, the TaiwanICDF is exempt from income tax. The income tax returns through 2010 have
been assessed and approved by the Tax Authority.
13. FUNDS
December 31, 2012
December 31, 2011
Founding Fund
$11,614,338,576
$11,614,338,576
Donated Fund
854,499,496
854,499,496
Total
$12,468,838,072
$12,468,838,072
1) The founding fund balance (NT$11,614,338,576) was derived from the closure of the IECDF management
committee on June 30, 1996. In the official registration with the court, the total property value filed was based on
the closing balance of assets of the IECDF management committee. As of March 13, 2013, the total amount of the
assets registered with TaiwanICDF was NT$15,888,379,324.
2) The donated fund (NT$854,499,496) of TaiwanICDF consisted of the following items:
A. The amount of NT$4,423,541 from MOFA’s Committee of International Technical Cooperation (CITC) was consoli-
dated in TaiwanICDF on July 1, 1997.
B. The amount of NT$600,000,000 was donated by MOFA on January 16, 1999.
C. The MOFA provided the amount of NT$250,075,955 on December 31, 2001 under the Regulation for the
TaiwanICDF in Providing Guarantee for Credit Facilities Extended to Private Enterprises Which Invest in Countries
with Formal Diplomatic Relationships. The TaiwanICDF had fulfilled the obligations of the guarantee amounting to
NT$152,665,834 as of December 31, 2012.
14. ACCUMULATED EARNINGS
The TaiwanICDF is registered as a consortium juridical person with the aim of strengthening international cooperation
and enhancing foreign relations by promoting economic development, social progress and the welfare of the people in
partner nations around the world. As the TaiwanICDF is a non-profit organization, distribution of income is not permitted
in accordance with its Articles of Association.
15. OTHER REVENUES
For the years ended
December 31, 2012
For the years ended
December 31, 2011
Reversal of allowance for doubtful accounts
$9,125,688
$–
Income converted from delinquent debts (Nauru Menen Hotel
Reconstruction Project)
–
228,113,264
Other
15,840,687
10,406,271
Total
$24,966,375
$238,519,535
16. RETIREMENT FUNDS
1) The TaiwanICDF contributes monthly an amount based on seven percent of the employees’ remuneration and
deposits it with a financial institution. This fund balance is not reflected in the financial statements. The fund
balance with financial institution were NT$92,318,901 and NT$96,399,979 as of December 31, 2012 and 2011,
respectively.
