 Waiver for Delinquent Tax Penalties and InterestNovember 7, 2006The Federated States of Micronesia Department of Finance and Administration announces that a recently signed law has allowed, for a limited time, a waiver of penalties and interest on delinquent tax accounts. According to Public Law no. 14-83, signed on October 18 2006, all civil penalties and interest on delinquent taxes under Section 903 of Title 54 of the FSM Code, which were levied or could have been levied prior to October 18, 2006 shall be waived for taxpayers who, at anytime from October 18 2006 to January 01 2008, pays the full amount of the tax principal owed. The waiver however, does not apply to penalties and interest levied on October 18 2006 and thereafter. It should also be noted that the tax waiver opportunity excludes penalties assessed under Title 54, Section 155(4): False and Fraudulent Returns, - these shall not be waived. The Department encourages the general public and the business communities to take advantage of this opportunity and settle delinquent accounts by paying the full principal tax between now and January 01, 2008. To learn more of the tax waiver opportunity, please contact the National Division of Customs and Tax Administration in Palikir or the national field offices in the States of Chuuk, Kosrae, Pohnpei and Yap at the following addresses:
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