<PAGE> PAGE 1
000 B000000 12/31/99
000 C000000 0000836267
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE R.O.C. TAIWAN FUND
001 B000000 811-5617
001 C000000 2126886840
002 A000000 1440 BROADWAY, 16TH FLOOR
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10018
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
015 B000001 C
015 B000002 C
015 B000004 C
018 000000 Y
019 A000000 N
019 B000000 0
020 A000001 SUN FUND SECURITIES LDT.
020 C000001 50
020 A000002 DAH CHANG SECURITIES - AN KANG BRANCH
020 C000002 48
020 A000003 UNION SECURITIES CO., LTD.
020 C000003 47
020 A000004 YING YI SECURITIES
020 C000004 43
020 A000005 KING HOE SECURITIES CO., LTD.
020 C000005 38
020 A000006 JIH-SUN SECURITIES CO., LTD.
020 C000006 37
020 A000007 CENTRAL TRUST OF CHINA
<PAGE> PAGE 2
020 C000007 35
020 A000008 DINGFU SECURITIES CO., LTD.
020 C000008 35
020 A000009 INTERNATIONAL COMMERCIAL BANK OF CHINA
020 C000009 34
020 A000010 TING KONG INTERNATIONAL SECURITIES CO., LTD.
020 C000010 34
021 000000 1356
022 A000001 GRAND COMMERICAL BANK
022 C000001 268010
022 D000001 0
022 A000002 INTERNATIONAL BANK OF TAIPEI
022 C000002 213645
022 D000002 0
022 A000003 THE CHINESE BANK
022 C000003 193421
022 D000003 0
022 A000004 BANK SINOPAC
022 C000004 134884
022 D000004 0
022 A000005 BAODAO COMMERCIAL BANK
022 C000005 8052
022 D000005 0
022 A000006 TAIPEI BANK
022 C000006 3715
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 821728
023 D000000 0
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
<PAGE> PAGE 3
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 N
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 0
028 B010000 0
028 B020000 0
028 B030000 0
028 B040000 0
028 C010000 0
028 C020000 0
028 C030000 0
028 C040000 0
028 D010000 0
028 D020000 0
028 D030000 0
028 D040000 0
028 E010000 0
028 E020000 0
028 E030000 0
028 E040000 0
028 F010000 0
028 F020000 0
028 F030000 0
028 F040000 0
028 G010000 0
028 G020000 0
028 G030000 0
028 G040000 0
028 H000000 0
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
035 000000 0
036 B000000 0
038 000000 0
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
<PAGE> PAGE 4
043 000000 0
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 185945
048 A020000 1.400
048 B010000 278918
048 B020000 1.200
048 C010000 371890
048 C020000 1.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 371890
048 K020000 0.800
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
061 000000 0
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
<PAGE> PAGE 5
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 Y
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 N
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 499723
071 B000000 506232
<PAGE> PAGE 6
071 C000000 254716
071 D000000 196
072 A000000 12
072 B000000 786
072 C000000 1669
072 D000000 0
072 E000000 0
072 F000000 3614
072 G000000 84
072 H000000 0
072 I000000 0
072 J000000 416
072 K000000 0
072 L000000 0
072 M000000 80
072 N000000 0
072 O000000 1210
072 P000000 0
072 Q000000 0
072 R000000 114
072 S000000 282
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 329
072 X000000 6129
072 Y000000 0
072 Z000000 -3674
072AA000000 47691
072BB000000 28079
072CC010000 72235
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 374
074 B000000 0
074 C000000 17346
074 D000000 0
074 E000000 0
074 F000000 317454
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 0
<PAGE> PAGE 7
074 M000000 32
074 N000000 335206
074 O000000 0
074 P000000 387
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 298
074 S000000 0
074 T000000 334521
074 U010000 32699
074 U020000 0
074 V010000 10.23
074 V020000 0.00
074 W000000 0.0000
074 X000000 203
074 Y000000 0
075 A000000 0
075 B000000 272030
076 000000 8.44
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 Y
077 Q030000 N
078 000000 N
080 A000000 CONTINENTAL CASUALTY COMPANY
080 C000000 1000
081 A000000 N
081 B000000 0
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
<PAGE> PAGE 8
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON STOCK
087 A020000 NYSE
087 A030000 R.O.C.
SIGNATURE EDWIN C. LAURENSON
TITLE ASSISTANT V.P.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 287,383,085
<INVESTMENTS-AT-VALUE> 334,800,681
<RECEIVABLES> 1,188
<ASSETS-OTHER> 404,627
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 335,206,496
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 685,200
<TOTAL-LIABILITIES> 685,200
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 313,550,303
<SHARES-COMMON-STOCK> 32,698,976
<SHARES-COMMON-PRIOR> 32,698,976
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (87,084)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (6,609,394)
<ACCUM-APPREC-OR-DEPREC> 47,417,596
<NET-ASSETS> 334,521,296
<DIVIDEND-INCOME> 1,668,883
<INTEREST-INCOME> 786,029
<OTHER-INCOME> 0
<EXPENSES-NET> 6,129,178
<NET-INVESTMENT-INCOME> (3,674,266)
<REALIZED-GAINS-CURRENT> 19,612,738
<APPREC-INCREASE-CURRENT> 72,235,268
<NET-CHANGE-FROM-OPS> 88,173,740
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 88,173,740
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (1,702,333)
<OVERDIST-NET-GAINS-PRIOR> (21,498,672)
<GROSS-ADVISORY-FEES> 3,614,478
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,129,178
<AVERAGE-NET-ASSETS> 272,030,167
<PER-SHARE-NAV-BEGIN> 7.53
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> 2.81
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.23
<EXPENSE-RATIO> 1.81
</TABLE>
Response to Item 77B
--------------------
KPMG Certified Public Accountants
6th Fl. No. 156, Sec. 3, Min-Sheng East Road Telephone (02)2715-9999
Taipei, 105 Taiwan, R.O.C. Telefax (02)2715-9888
To The Board of Trustees and Shareholders of
The R.O.C. Taiwan Fund:
In planning and performing our audit of the financial statements of The R.O.C.
Taiwan Fund (the "Trust") for the year ended December 31, 1999, we considered
its internal control, including procedures for safeguarding securities, in order
to determine our auditing procedures for the purpose of expressing our opinion
on the financial statements and to comply with the requirements of Form N-SAR,
not to provide assurance on the internal control structure.
The management of the Trust is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control would not necessarily disclose all
matters in the internal control that might be material weaknesses under
standards established by the American Institute of Certified Public Accountants.
A material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in amounts that would
be material in relation to the financial statements being audited may occur and
not be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
internal control and its operation, including procedures for safeguarding
securities, which we consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of management, the
Board of Trustees of the R.O.C. Taiwan Fund, and the Securities and Exchange
Commission.
KPMG
/s/KPMG
Taipei, Taiwan
January 19, 2000
Response to Item 77Q2
---------------------
Compliance During 1999 With
Required Filings Pursuant to
Section 30(h) of the Investment Company Act
To the knowledge of The R.O.C. Taiwan Fund (the "Trust"), certain individuals or
organizations reported below, which during 1999 were affiliated persons (as
defined in the Investment Company Act) of International Investment Trust Company
Ltd., the Trust's investment adviser (the "Adviser"), did not make timely
filings, or failed to make filings, required during or with respect to 1999 by
rules of the United States Securities and Exchange Commission pursuant to
Section 30(h) of the Investment Company Act, with respect to holdings of, or
transactions during 1999 or prior years in, shares of the Trust. The Kuomintang,
which controls Central Investment Holding Co., Ltd. ("CIHC") and Asia Pacific
Holdings Corp. ("Asia Pacific"), affiliated persons of the Adviser, indirectly
controls 24.37% of the Adviser's outstanding voting securities, but has failed
to make any filings of Forms 3, 4 or 5. However, CIHC and Asia Pacific did make
timely filings (or have provided statements in lieu of required filings). In
addition, if CIHC, Asia Pacific and the Kuomintang are deemed to be controlling
persons of the Adviser, then persons controlled by CIHC, Asia Pacific or the
Kuomintang would be required to file statements on Forms 3, 4 and 5 with respect
to ownership of, or transactions in, shares of the Trust. No such persons have
made any such filings. Finally, during 1999 Messrs. Fan-Chih Wu, a director of
the Adviser, and Stephen Chen, a Senior Vice President of the Adviser, failed to
make timely filings on Form 3 upon their assumption of such positions with the
Adviser. Messrs. Wu and Chen subsequently made the required filings, however;
they have not engaged in any transactions concerning the Trust's shares since
their appointments and, therefore, were not required to make any filings on
Form 4.
