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Tax committee workshop

An interactive half-day workshop was hosted by the ECCT's Tax committee and KPMG on the topic "How to Get Ready for the E-Invoice System". Presentations were delivered by Vivia Huang, Tax Partner and Carol Hsieh, Advisory Manager at KPMG. The workshop was held to help ECCT member companies prepare for a new electronic invoicing system to be implemented by the Ministry of Finance (MoF). The new system will have a significant impact on many aspects of business operations, both internally and externally with customers and suppliers. According to the MoF's plan, it will implement business-to-business electronic uniform invoices, in addition to business-to-consumer EUIs that are already in use. The MoF will stop accepting new Computer Uniform Invoices (CUI) users starting from 1 January 2017 and aims to completely terminate CUIs by 1 January 2018.

 

The presenters gave very detailed presentations on the technical and administrative procedures that need to be followed. This included a briefing on the relevant rules for the preservation of files and supporting documents, the MoF's EUI platform, typical changes and measures required in terms of operational procedures as well as IT systems to implement a smooth transition to EUI, the potential impact and challenges to business operations from using EUIs and what to anticipate in terms of VAT and income tax filing.

Following the presentations, participants enjoyed lunch together, which was followed by an hour-long interactive Q&A session.

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