Not getting rich by speculating on coins, this user received a multimillion-dollar reward from the tax authorities for paying taxes on a trading platform.

This user received a multimillion-dollar reward from the tax authorities for paying taxes on a trading platform, rather than making money by speculating on coins.

Author: Chloe, LianGuaiNews

The Taiwanese Ministry of Finance recently announced the winners of the unified invoice (receipt) lottery for July and August, which included 17 winners of NT$10 million and 20 winners of NT$2 million. Among the NT$10 million winners, the most eye-catching is the winner at number 2, who only spent NT$2 (less than 0.5 RMB) in MaiCoin transaction fees to win the NT$10 million prize.

MaiCoin also explained the incident, stating that generally, when users trade virtual currencies on the platform and the transaction fee currency is in NT$, the amount is rounded to the nearest whole number and a unified invoice is issued when it reaches NT$1. If the transaction fee currency is a virtual currency (including using MAX Token for deduction), it is converted to NT$ based on the current exchange rate and rounded to the nearest whole number, and a transaction fee invoice is issued when it reaches NT$1.

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Is Taiwan’s unified invoice system favored by the goddess of luck?

The purpose of Taiwan’s unified invoice system is to encourage consumers to request a unified invoice when making purchases (because there is a chance to win) and to prevent businesses from intentionally not issuing unified invoices, which would result in a loss of government revenue.

This measure, which benefits ordinary people, promotes tax compliance, and the greater attraction is that anyone who consumes anything has a chance to win a substantial cash prize.

This system has many prize categories to ensure that a large number of participants have a chance to win. The amount of prize money is determined by the “number of matching digits” with the winning numbers. The more numbers on the participant’s invoice, the more eligible they are for the NT$10 million grand prize.

Firstly, the grand prize is called the special prize, which usually requires matching all eight digits of the winning numbers. This prize usually awards cash in the millions or tens of millions of New Taiwan dollars. Other prize categories include first prize, second prize, third prize, fourth prize, fifth prize, and other levels of prizes. Even if participants don’t win the top prize, they still have a chance to win smaller cash rewards. In recent years, additional “digital prizes” have been introduced, specifically for users who access invoices through applications. The introduction of this prize is to encourage users to adopt digital receipts and reduce reliance on paper receipts.

An invoice looks like this, containing information such as the store where the goods were purchased, the month and year of the lottery, and most importantly, the invoice number. The remaining information includes the time of purchase and the total amount spent on the transaction. The draw date is always on the 25th of the following month of the bi-monthly period.

Whether it’s NT$ transactions or cryptocurrency transactions, as long as the user’s transactions are successful, MaiCoin will issue invoices only after daily settlement, which means that if a user has multiple transactions within a day, the transaction fees will be accumulated and rounded to the nearest whole number before issuing an invoice.

However, MaiCoin also stated that every profit earned and service fee charged by trading users on the platform is a taxable event. Therefore, the most active users on the platform may have dozens or even hundreds of invoices each month.

However, the chances of winning among the dozens or hundreds of invoices are very low, because people consume in various aspects of their daily lives. The number of accumulated invoices each month is substantial, resulting in a large number of participants and an extremely low winning rate.

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