Mon, Mar 18, 2019 - Page 15 News List

TaiwanBusiness Buick Take

Staff writer, with CNA

FINANCE

Taiwan taken off tax list

The EU has removed Taiwan from the bloc’s gray list of tax havens, acknowledging the nation’s efforts to implement measures against tax avoidance, the Ministry of Finance said on Thursday. Taiwan was first listed in December 2017 as a potential tax haven by the EU Economic and Financial Affairs Council, which consists of economy and finance ministers. In its latest update on Tuesday, the council delisted 25 jurisdictions, including Taiwan, while adding 10: Aruba, Barbados, Belize, Bermuda, Fiji, the Marshall Islands, Oman, the United Arab Emirates, Vanuatu and Dominica.

E-COMMERCE

PChome, Rakuten ink deal

PChome Online Inc (網路家庭) signed an agreement with Japanese firm Rakuten Inc on Thursday to bolster exchanges between their members, and provide joint services and content, with the aim to build customer loyalty. Under the deal, their members will be allowed to accumulate and exchange PChome’s P-coins and Rakuten points for online transactions in both countries, while consumers in Taiwan will be able to shop for Rakuten products on PChome’s consumer-to-consumer marketplace.

CHEMICALS

Formosa dividend approved

Formosa Chemicals & Fibre Corp (台灣化纖) on Friday said its board of directors had approved a proposal to distribute a cash dividend of NT$6.2 per common share based on last year’s earnings per share of NT$8.36, a payout ratio of 74.16 percent. The proposed cash dividend, if approved by shareholders on June 5, would be lower than last year’s NT$7 per share, as the company saw its net profit last year decline 10.37 percent year-on-year to NT$48.77 billion (US$1.58 billion).

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