The 16-time World Champion had been superb in beating world number four Daryl Gurney in the last eight but was unable to repeat his clinical performance against the Dutchman in the shootout for the final.
"The Power" still averaged more than 98 and matched MvG on the 180 count (both five), but from 6-4 up at the second break, the world number one eased away to a 16-8 victory.
It means that Taylor has one last campaign in PDC darts before he calls time on the most successful career in the history of the sport - the World Championship at Alexandra Palace next month.
Before that though, #TeamTarget has a number of players competing in the Players Championship Finals in Minehead next weekend.
Rob Cross enters the tournament as the number one seed, following his stunning debut year in the PDC, and will be joined by Adrian Lewis, Raymond van Barneveld, Stephen Bunting, Dave Chisnall and Joe Murnan for the £460,000 tournament.
The action will be shown live on ITV4 in the UK and worldwide via the PDC's broadcast partners.