Operators of duty-free shops in Taiwan will not need to record their customers’ personal data, as various legislators and shop operators expressed concerns the move would hurt the nation’s duty-free trade, the Ministry of Finance said yesterday.
The decision came after an announcement by the ministry’s Department of Customs Administration on July 31, which said it was scheduled to revise the rules on duty-free shop operator management after reviewing them last month.
The revised rules required shop operators to record the passport numbers of travelers purchasing items in duty-free shops as well as details of the items they were purchasing.
The information recorded by computer systems in duty-free shops would immediately be transferred to the administration’s computer system.
However, the department changed its mind, as duty-free shop operators expressed concerns such a move could create an unfriendly shopping experience and cause long lines as shoppers would have to complete a lengthy registration process, which might encourage travelers to buy at other international airports.
The Ministry of Justice also expressed its opposition to this proposal, saying the revision might violate travelers’ privacy.
Last month, various lawmakers, including Chinese Nationalist Party (KMT) lawmakers Lu Shiow-yen (盧秀燕), Lin Te-fu (林德福) and Wong Chung-chun (翁重鈞), held a public hearing over the issue, with representatives of duty-free shop owners sharing similar views.
“Since representatives indicated the new rules could affect travelers’ willingness to purchase goods at the nation’s airports, we agree to revise the regulations [on recording personal data],” the department director Wang Liang (王亮) told a press conference yesterday.
However, Wang said registering passport numbers is a method commonly used in countries like the US, Japan and South Korea.
Also, the department will insist on the revision that duty-free shop operators have to connect their electronic system instantly with the Customs Administration’s system, to be consistent with international standards, Wang added.
Wang said the department would draft a new version of the rules this month and inform the public, as requested by legislators, giving the public a month to review the proposed rules, before the revisions are officially announced and take effect.
“We still hope the revisions can take effect by the end of this year,” he said.
Separately, the Cabinet yesterday appointed FSC Vice Chairman Wu Tang-chieh (吳當傑) as the new vice minister of finance, adding that Huang Tien-mu (黃天牧), director-general of the FSC’s securities and futures bureau, would fill in Wu’s former position.
Wu’s financial background makes him particularly suitable for his new post and it is thought he will be able to help the ministry advance its agenda, a Cabinet spokesperson said.
Huang, who has a wide range of experience and has helped develop the domestic Chinese-yuan denominated bond market and promote the offshore securities business, will continue to help supervise and manage the financial sector in his new post, the spokesperson said.
Additional reporting by CNA
SPEED OF LIGHT: US lawmakers urged the commerce department to examine the national security threats from China’s development of silicon photonics technology US President Joe Biden’s administration on Monday said it is finalizing rules that would limit US investments in artificial intelligence (AI) and other technology sectors in China that could threaten US national security. The rules, which were proposed in June by the US Department of the Treasury, were directed by an executive order signed by Biden in August last year covering three key sectors: semiconductors and microelectronics, quantum information technologies and certain AI systems. The rules are to take effect on Jan. 2 next year and would be overseen by the Treasury’s newly created Office of Global Transactions. The Treasury said the “narrow
SPECULATION: The central bank cut the loan-to-value ratio for mortgages on second homes by 10 percent and denied grace periods to prevent a real-estate bubble The central bank’s board members in September agreed to tighten lending terms to induce a soft landing in the housing market, although some raised doubts that they would achieve the intended effect, the meeting’s minutes released yesterday showed. The central bank on Sept. 18 introduced harsher loan restrictions for mortgages across Taiwan in the hope of curbing housing speculation and hoarding that could create a bubble and threaten the financial system’s stability. Toward the aim, it cut the loan-to-value ratio by 10 percent for second and subsequent home mortgages and denied grace periods for first mortgages if applicants already owned other residential
EXPORT CONTROLS: US lawmakers have grown more concerned that the US Department of Commerce might not be aggressively enforcing its chip restrictions The US on Friday said it imposed a US$500,000 penalty on New York-based GlobalFoundries Inc, the world’s third-largest contract chipmaker, for shipping chips without authorization to an affiliate of blacklisted Chinese chipmaker Semiconductor Manufacturing International Corp (SMIC, 中芯). The US Department of Commerce in a statement said GlobalFoundries sent 74 shipments worth US$17.1 million to SJ Semiconductor Corp (盛合晶微半導體), an affiliate of SMIC, without seeking a license. Both SMIC and SJ Semiconductor were added to the department’s trade restriction Entity List in 2020 over SMIC’s alleged ties to the Chinese military-industrial complex. SMIC has denied wrongdoing. Exports to firms on the list
TECHNOLOGY EXIT: The selling of Apple stock might be related to the death of Berkshire vice chairman Charlie Munger last year, an analyst said Billionaire Warren Buffett is now sitting on more than US$325 billion in cash after continuing to unload billions of US dollars worth of Apple Inc and Bank of America Corp shares this year and continuing to collect a steady stream of profits from all of Berkshire Hathaway Inc’s assorted businesses without finding any major acquisitions. Berkshire on Saturday said it sold off about 100 million more Apple shares in the third quarter after halving its massive investment in the iPhone maker the previous quarter. The remaining stake of about 300 million shares was valued at US$69.9 billion at the end of