Uber Technologies Inc’s Taiwan branch is expected to issue electronic uniform invoices by the end of this year as required by the Ministry of Finance (MOF), the company said on Tuesday last week.
Uber customers currently receive a service notification via e-mail, but that notification is not a receipt and does not have a numerical code, prevently customers from participating in the uniform invoice lottery operated by the government.
As the ministry requires cross-border e-commerce operators to issue electronic uniform invoices, Uber Taiwan said it is establishing its own system to issue the receipts.
“Passengers who purchase ride services through the Uber app or consumers who pay for the food delivery service through the UberEats app would all get the receipts via e-mail,” Uber Taiwan communications officer Jessica Pan (潘瑞蓮) told the Taipei Times by telephone.
Pan said that Uber has been paying business taxes since resuming services in Taiwan in 2017 and does not expect the issuance of electronic uniform invoices to increase its tax burden.
“But the offering of receipts would give consumers a little happiness as they might win the lottery,” she said.
Uber declined to specify when it would start issuing the receipts, but the Taxation Administration said that the firm plans to launch the system in November at the earliest, an official surnamed Lin (林) said by telephone.
So far, five global e-commerce companies have begun issuing uniform invoices, including Japan-based Sony Interactive Entertainment Inc, Google Asia Pacific Pte Ltd, UpToDate Inc, Digital River GmbH and Various Inc, Lin said.
A total of 120 offshore companies are required to issue electronic uniform invoices by the end of this year or they will be fined, but they are allowed to issue receipts in languages other than Chinese, National Taxation Bureau of Taipei Director-General Hsu Tzu-mei (許慈美) said by telephone last week.
“It is Taiwan’s custom to run a state lottery by including the eight-digit numbers written on the uniform receipts, so some foreign companies have to spend some time understanding the system and adapting to it,” Hsu said.
Issuing the receipts should help the bureau collect tax information such as the companies’ revenue and would allow the bureau to determine if they declare their taxes correctly, she said.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees