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Apéndice
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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, 2015
For the years ended
December 31, 2014
Reversal of allowance for doubtful accounts
$ 4,550,445
$ 4,839,579
Others
8,022,243
16,704,121
Total
$ 12,572,688
$ 21,543,700
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$99,438,022 and NT$87,378,901 as of December 31, 2015 and 2014, respectively.
2) The account for employees’ retirement funds allocated by the TaiwanICDF was detailed as follows:
For the years ended
December 31, 2015
For the years ended
December 31, 2014
Balance at the beginning of the year
$ 87,378,901
$ 86,393,838
Interest income
1,112,852
1,041,320
Contribution during the year
10,946,269
4,000,000
Payments during the year
-
（
4,056,257
）
Balance at the end of the year
$ 99,438,022
$ 87,378,901
3) Effective September 1, 2009, TaiwanICDF has been the entity covered by the Labor Standards Law and has adopted
the following two schemes:
Scheme A: the pension and severance obligation are settled and the settled amounts are transferred to TaiwanICDF’s
retirement fund deposited with the financial institution. The employees may claim pension benefits when
they retire or reach 55 years old or upon their death.
Scheme B: the pension and severance obligation are not settled and the old pension plan is extended.
Accordingly, the TaiwanICDF recognized an accrued pension reserve of $16,014,156 for the excess of present value
of pension benefits for the past and future service years under the old pension plan over the fair value of the pension
fund at the measurement date, September 1, 2009 and contributed the amount to the account in 2010.
4) Effective September 1, 2009, the TaiwanICDF has established a funded defined contribution pension plan (the “New
Plan”) under the Labor Pension Act. Under the New Plan, the TaiwanICDF contributes monthly depending on the
contribution grades an amount based on 7% of the payroll grades corresponding to the employees’ monthly salaries
and wages to the employees’ individual pension accounts at the Bureau of Labor Insurance. The benefits accrued in
the employees’ individual pension accounts could be received in full or in monthly installments when the employees
retire. The pension costs under the New Plan for the years ended December 31, 2015 and 2014 amounted to
$17,806,629 and $10,769,383, respectively.