On 6 May 2011, the Ministry of Finance (MOF) issued a ruling (Ref. No.: Tai-Tsai-Shuei-10000076610) governing the taxation of individuals' trust agreements by which they gift accrued interest on trust assets as trust interest. The MOF's ruling provides that when individuals learn through shareholders' meetings, board of directors meetings or individuals having control over the company, that the company they have invested in will distribute the earnings, they sign a trust agreement to gift the confirmed or expected earnings to beneficiaries. This procedure is not different from appointing a trustee to receive such earnings and then gifting them to beneficiaries, in which case the earnings should be deemed the individuals' income and subject to income tax. Then when the appointed trustee receives the earnings and delivers them to the beneficiaries, the individuals should be subject to gift tax under tax laws.