Uber suspends service in Taiwan after being hit with millions of dollars in fines by the government

Taiwan officials consider Uber's business on the island to be illegal. They say the U.S. startup only has permission to operate as a tech company, not to provide transportation services.

Therefore Uber is suspending its service in the country as it's being hit with millions of dollars in fines by the government.

"We have not made this decision lightly, as we know it will have a significant impact on hundreds of thousands of drivers and riders," Uber said in a statement that criticized the Taiwan government for failing to embrace innovation.

Uber has arranged 15 million rides since starting up in Taiwan four years ago, Taiwan authorities continue to hit the company and its drivers with hundreds of fines. Between September 2014 and January 2017, Uber's fines totaled more than 73 million Taiwan dollars ($2.4 million).