The FSM delegation also included consultants who worked closely with the task force in putting together the new tax regime.
The meeting included a Power Point presentation, explanation of the reform, and a question and answer session.
Yap Gov. Sebastian Anefal shared copies of the proposed amendments to existing state and national laws pertaining to taxation.
For Yap, the following are proposed for amendments:
1. State Revenue Administration Act
2. State Value Added Tax; and
3. An Excise Tax on “sin” goods
Anefal said he will withhold formal transmittal of the tax measures to the state legislature until the leadership has reached a final consensus on the tax reform.
At the national level, FSM President Manny Mori had submitted to Speaker Isaac Figir on March 24 the proposed bills for amendments to national laws particularly Title 54 of the FSM Code.
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