Premier Liu Chao-shiuan (劉兆玄) yesterday threw his support behind Financial Supervisory Commission (FSC) Chairman Sean Chen (陳冲), who rejected a suggestion by President Ma Ying-jeou (馬英九) on Friday that the government delay a revised inventory accounting rule out of consideration for businesses whose margins have been affected by the economic downturn.
Liu said the FSC would stick to its position on implementing the inventory accounting rule, called the International Accounting Standards Statement No. 10.
“The FSC has announced the new accounting rule. We will listen to the opinions of others and take them into consideration, but implementing the rule was already determined,” Liu said.
Liu said the government would consider proposing supportive measures for the new rule, which requires listed companies to mark-to-market their inventories in financial reports. He declined to elaborate.
On Thursday, the Presidential Office’s economic advisory committee suggested the government temporarily suspend the implementation of the rule, citing concerns of margin erosion by businesses.
Yesterday, the Presidential Office said it would respect the Cabinet’s decision on whether or not to suspend the implementation of a revised accounting rule even though Ma had called on the Cabinet to reconsider the accounting rule’s implementation during a meeting with business representatives at the Hsinchu Science Park (新竹科學園區).
Presidential Office spokesman Wang Yu-chi (王郁琦) said yesterday that Ma made the remarks on Friday to reflect the opinions of the high-tech industry, and the Presidential Office would not interfere with the Cabinet’s decision on the matter.
“President Ma understands that many business groups had different opinions about the new rule, but as economic issues were involved, we will respect the FSC and the Cabinets’ decision on whether or not to delay the implementation,” Wang said.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
CUSTOMERS’ BURDEN: TSMC already has operations in the US and is a foundry, so any tariff increase would mostly affect US customers, not the company, the minister said Taiwanese manufacturers are “not afraid” of US tariffs, but are concerned about being affected more heavily than regional economic competitors Japan and South Korea, Minister of Economic Affairs J.W. Kuo (郭智輝) said. “Taiwan has many advantages that other countries do not have, the most notable of which is its semiconductor ecosystem,” Kuo said. The US “must rely on Taiwan” to boost its microchip manufacturing capacities, Kuo said in an interview ahead of his one-year anniversary in office tomorrow. Taiwan has submitted a position paper under Section 232 of the US Trade Expansion Act to explain the “complementary relationship” between Taiwan and the US
RSS