President Mori signs into law the Revenue Administration Act of 2012

Press Release #0512-02
Palikir, Pohnpei – FSM Information Services
May 02, 2012

In the Morning of May 1, 2012, President Manny Mori signed into law the new Revenue Administration Act of 2012 (RAA).

In a transmittal letter to Speaker Isaac V. Figir regarding the signing of the RAA, President Mori underscores his appreciation to Congress for its leadership commitment to the on-going nation-wide tax reform effort by passing the Revenue Administration Act during its March 19 to April 2, 2012 session and for passing the Unified Revenue Authority Act a year ago, which became law on April 19, 2011 as Public Law No. 16-75.

According to the President, the Governments of the FSM have dedicated significant amount of time and energy in working on various reforms to the tax system since 2004, drawing substantive discussions across the five governments and comprehensive stakeholders’ engagement the past four years.

Secretary Henry leads FSM Delegation to the 2012 Forum Trade Ministers Meeting in Majuro
Press Release #0512-04
Palikir, Pohnpei – FSM Information Services
May 17, 2012

The Secretary of the FSM Department of Resources and Development, Mr. Marion Henry, is in Majuro to attend the 2012 Forum Trade Ministers Meeting (FTMM) on Friday, May 11 at the International Convention Center. The Meeting will deliberate on trade and trade-related issues, including the 10 years Strategy to promote Pacific trade and investment in selected markets, and progress in negotiations for the Pacific Agreement on Closer Economic Relations (PACER) Plus between Forum Island Countries, Australia and New Zealand. It will also address the latest development in the establishment of a regional trademarks application system as well as traditional knowledge and intellectual property rights.

FSM Office of SBOC Submits FY2012 2nd Quarter Reports to the Office of Insular Affairs
Press Release #0512-05
Palikir, Pohnpei – FSM Information Services
May 17, 2012

The FSM Office of Statistics, Budget & Economic Management, Overseas Development Assistance and Compact Management (S.B.O.C.) has submitted all received fiscal year 2012 second quarter performance reports to the Office of Insular Affairs. Out of more than 126 projects, 94% of reports have been transmitted by the five FSM Governments to SBOC for submission to OIA on the April 30, 2012 deadline.

FSM and Australia hold review talks on Pacific Partnership for Development Agreement
Press Release #0512-03
Palikir, Pohnpei – FSM Information Services
May 03, 2012

A review talks was held on April 30, 2012 on the Pacific Partnership for Development (PP4D) between the Federated States of Micronesia and Australia, over a year after the agreement on the bilateral partnership was signed by the two governments at the margins of the Port Vila Forum in 2010. The PP4D is a development partnership between FSM and Australia which establishes their shared vision to work together in close cooperation to meet their common development challenges and raise the standard of living for the people of the FSM. It also outlines the principles and objectives underpinning the partnership that is to advance along three priority outcome areas in environmental management, fiscal reform and economic management, with special focus on tax reform and development coordination