Cross-Straits double taxation avoidance accord not to be signed tomorrow

TAICHUANG: A senior Beijing negotiator said on Monday an agreement on the avoidance of double taxation across the Taiwan Straits will not be signed tomorrow as expected due to "technical reasons."

Zheng Lizhong, vice-president of the Association for Relations Across the Taiwan Straits (ARATS), made the remarks after holding a preparatory meeting with Kao Koong-lian, vice chairman of the Straits Exchange Foundation (SEF).

When they meet for the fourth round of cross-Straits talks tomorrow, ARATS president Chen Yunlin and SEF chairman Chiang Pin-kung had been expected to sign four economic agreements on fishing crew cooperation, agricultural quarantine inspection, industrial product standards, inspection and certification, and the avoidance of double taxation.

Zheng, however, told reporters that negotiaotrs from both sides failed to reach a full agreement on the avoidance of double taxation, citing such technical reasons as taxation form and taxation rate.

"Both sides feel the need to have more time to exchange views on the issue," he said at a press briefing.

"We will try our best to sign the agreement as soon as possible."