Tue, Mar 22, 2005 - Page 11 News List

Business briefs


■ Online sellers may face tax

The Ministry of Finance is proposing to levy a tax on online sellers who sell more than NT$60,000 of goods per month, or online service providers that make over NT$30,000 per month, a taxation official said yesterday. The proposal will go into effect after ratified by Minister of Finance Lin Chuan (林全) this week, the official said. Under the plan, a 1 percent tax would be imposed on those whose monthly revenues are below NT$200,000, while businesses earning more than NT$200,000 per month would face a 5 percent tax. The rule only applies to online stores selling new products, not those selling second-hand goods. The tax agency will collect the tax based on transaction data provided by major online auctioneers, such as Yahoo-Kimo Inc and eBay Taiwan, the official said. The proposal also requires qualified online sellers to report their previous taxable income and register their businesses within six months after the rule is passed.

■ CPC mulls Canada project

State-run Chinese Petroleum Corp (CPC, 中油) is considering exploring oil sand in Canada to diversify its source of energy. "We are making a feasibility study because we want to diversify our source of energy and guarantee a stable supply of energy, " a CPC official said. "If the feasibility study's results are good, we will make an economic study. But we will not divulge the details until we have signed an agreement with the other side," the official said. CPC is reportedly interested in exploring two oil sand blocks in Alberta and will soon submit bids.

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