![]() Shen then brought suit for a declaratory judgment in Taiwan to remove himself as Daly's responsible person. 18ĭaly's attempt to extricate Shen through diplomatic channels failed. In October 1995, the Taiwan Ministry of Finance and the Bureau of Entry and Exit informed Shen he was forbidden from leaving the country until resolution of the Daly tax issue. Daly did not appeal the assessment, and it became final in June 1995. In May 1994, the Taiwan Tax Authority assessed a tax liability of approximately $80,000 against Daly for 19. Daly III himself, implored Daly to resolve the tax dispute and remove him as the responsible person. 17įollowing this request and until mid-October 1995, Shen, through a series of letters to Daly personnel and to Mr. In January 1994, Shen asked Daly to indemnify him should the Taiwan Tax Authority impose the tax liability on him directly. Daly responded that it was "inconceivable" any tax could be owed because Daly had suffered large losses in Taiwan. Shen, in turn, notified Daly's accounting firm in Taiwan and informed them he was concerned he could be held responsible for any deficiency because his "chop," the Taiwanese equivalent of a signature, was affixed to the returns. In December 1993 Shen received a notice from the Taiwan Tax Authority that it wanted to audit Daly's 1992 Taiwan tax returns. Daly, however, failed to remove Shen as its responsible person. As a result, Shen was terminated but chose to remain in Taiwan. ![]() In November 1992, Daly, decided to withdraw from Taiwan because of business setbacks. ![]() To conduct business in Taiwan, Daly was required to designate a "responsible person," or legal representative in the country, and Shen was so designated. In 1989, Shen moved to Taiwan to become managing director of Daly's operation there. Shen is a United States citizen who retains dual Taiwanese citizenship.
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