By 2012, Taiwan will be the first country in Asia to use a fully automated national taxation system, which is expected to save taxpayers hundreds of millions in operational costs, IBM Taiwan Corp said yesterday.
“It will also reduce social costs directly and indirectly associated with tax collection by NT$602 million [US$18 million],” Paul Liu (劉鏡清), executive of IBM Taiwan’s global business services, told a media briefing.
The system is known as the Smart Taxation Service System.
Acting as the nation’s adviser, IBM assisted in consolidating various local government agencies, such as Ministry of Finance’s national tax administration, the Ministry of Education and various District Courts, to provide a single window for taxpayers.
Yesterday, the Ministry of Finance’s financial data center (FDC) completed the first phase of the Taxation Information System Integration and Re-engineering Project, which was launched in 2007. Official bidding for the project will begin at the end of this year, IBM said.
The project imitates the electronic tax filing model implemented by the US Internal Revenue Service and is expected to increase local tax filing productivity by 20 percent within three years of its introduction.
In addition to general-income tax filing, the FDC will also provide e-tax filing and online payment services, saving taxpayers associated transportation and time equivalent to savings of NT$213 million per year, IBM data showed.
By enabling interagency collaboration, seamless data transmission among various public and private channels could reduce tax processing costs by NT$179 million and interagency coordination costs by NT$2.38 billion, Liu said.
Furthermore, the project team will conduct a comprehensive analysis to streamline and automate the taxation process, reduce the amount of tax audits required and improve the quality of the tax examination process.
Risk management measures will include automated alerts to trigger suspicious filings or tax evasion.
Another likely advantage of the Smart Taxation Service is the substantial savings in information technology (IT) hardware under a centralized taxation information platform and database.
“This will accelerate decision-making, lower system installation and maintenance costs, and strengthen information security. This in turn will lower electricity consumption at the FDC’s data center by 40 percent,” Liu said.
NEW IDENTITY: Known for its software, India has expanded into hardware, with its semiconductor industry growing from US$38bn in 2023 to US$45bn to US$50bn India on Saturday inaugurated its first semiconductor assembly and test facility, a milestone in the government’s push to reduce dependence on foreign chipmakers and stake a claim in a sector dominated by China. Indian Prime Minister Narendra Modi opened US firm Micron Technology Inc’s semiconductor assembly, test and packaging unit in his home state of Gujarat, hailing the “dawn of a new era” for India’s technology ambitions. “When young Indians look back in the future, they will see this decade as the turning point in our tech future,” Modi told the event, which was broadcast on his YouTube channel. The plant would convert
Nanya Technology Corp (南亞科技) yesterday said the DRAM supply crunch could extend through 2028, as the artificial intelligence (AI) boom has led the world’s major memory makers to dramatically reduce production of standard DRAM and allocate a significant portion of their capacity for high-bandwidth memory (HBM) chips. The most severe supply constraints would stretch to the first half of next year due to “very limited” increases in new DRAM capacity worldwide, Nanya Technology president Lee Pei-ing (李培瑛) told a news briefing. The company plans to increase monthly 12-inch wafer capacity to 20,000 in the first half of 2028 after a
Property transactions in the nation’s six special municipalities plunged last month, as a lengthy Lunar New Year holiday combined with ongoing credit tightening dampened housing market activity, data compiled by local land administration offices released on Monday showed. The six cities recorded a total of 10,480 property transfers last month, down 42.5 percent from January and marking the second-lowest monthly level on record, the data showed. “The sharp drop largely reflected seasonal factors and tighter credit conditions,” Evertrust Rehouse Co (永慶房屋) deputy research manager Chen Chin-ping (陳金萍) said. The nine-day Lunar New Year holiday fell in February this year, reducing
New vehicle sales in Taiwan plunged about 37 percent sequentially last month as the long Lunar New Year holiday and 228 Peace Memorial Day holiday cut short the number of working days, along with the lingering uncertainty over import tax cuts on US vehicles, market researcher U-Car said in a report yesterday. New car sales last month totaled 22,043, slumping from 35,073 units in January and down 19.89 percent from 37,515 in February last year, U-Car data showed. Sales of imported luxury cars, led by Mercedes-Benz, plummeted about 45 percent to 3,109 units last month from 5,663 units in the previous month,
RSS