FSM Congress Ways And Means Committee Meets In Palikir PALIKIR, Pohnpei (FSM Congress News, Aug. 11, 2014) — The Committee on Ways and Means is here for a series of public hearings and oversight on matters still pending before the pane prior to the upcoming regular session of the Congress of the Federated States of Micronesia in September. Following last week’s executive committee meeting, Chairman Isaac V. Figir called in the various departments and agencies of the national government in the afternoon to begin the Committee on Ways and Means series of public hearings to address outstanding issues ranging from climate change legislation and its implementation to tax reform. The line-up of issues included: • The FSM resident’s recent Report on the Audit of Public Debts for fiscal year 2012; • The proposed use of the World Bank’s 16th International Development Association or IDA-16 Funds, originally slated for the FSM Telecommunications; • An overview of the Trust Fund Investments, a review of the Funds’ balance, and the new investment advisor. • Climate change legislation and its implementation and progress to date by all relevant parties; • The overrun of Public Projects along with the revised format for the Project Control Document or PCD and its proposed improvements especially in line with Congressional Bill 18-201 which requires that any revision to the existing PCDs to comply with the Administrative Procedures Act; • A review of the government’s current foreign assistance procedures, along with an update on the status of U.S. federal programs and assistance. • C.B. 18-21, the distribution of tax revenue in the state sub-accounts and any implementation concerns; • C.B. 18-22, the proposed qualified exemption from the Gross Revenue Tax; • C.B. 18-165, the taxation of foreign corporation branch offices in the FSM and its effect on the current tax scheme; and • The issue of tax reform, its collection and its enforcement. Along with Chairman Figir, the member of the Committee on Ways and Means include Sens. Yosiwo P. George, Tony H. Otto and Joseph J. Urusemal. The staff attorneys are Yancy Cottrill, Catherine Allen, Alik Jackson and John Nowakoswki.
Posted on: Mon, 11 Aug 2014 14:11:30 +0000
Recently Viewed Topics
© 2015