Editor’s note: This version of chapter 8 of this title is included here for reference only, as at the time of this codification the provisions of section 87, that set forth codified section 934 of PL 17-50, as amended by section 1 of PL 17-83, made this Act null and void.
Section 1 of PL 17-83 states:
Section 1. Section 934 of title 54 of the Code of the Federated States of Micronesia, as enacted by Public Law No. 17-50, is hereby amended to read as follows:
§ 934. If any of the four states of the Federated States of Micronesia have not passed into law value added tax legislation as of midnight July 19, 2013, this act is null and void.
PL 17-83 was signed into law by Vice President Alik L. Alik on April 19, 2013.
SUBCHAPTER I
General Provisions
[FOR REFEREENCE ONLY]
SECTIONS
§ 801. Short title.
§ 802. Definitions.
§ 803. References to terms used in other laws.
Editor’s note: This version of chapter 8 of this title is included here for reference only, as at the time of this codification the provisions of section 87, that set forth codified section 934 of PL 17-50, as amended by section 1 of PL 17-83, made this Act null and void.
Section 1 of PL 17-83 states:
Section 1. Section 934 of title 54 of the Code of the Federated States of Micronesia, as enacted by Public Law No. 17-50, is hereby amended to read as follows:
§ 934. If any of the four states of the Federated States of Micronesia have not passed into law value added tax legislation as of midnight July 19, 2013, this act is null and void.
This chapter may be cited as the Revenue Administration Act of 2012.
Source: PL 17-50 § 2.
Editor’s note: Section 1 of PL 17-50 designated sections 801, 802, and 803 of chapter 8 as subchapter I entitled General Provisions. Sections 2, 3, and 4 of PL 17-50 repealed their current sections and enacted new sections as set forth below. Sections 5 and 6 of PL 17-50 repealed sections 804 and 805, respectively.
Wherever used in this chapter, unless the subject matter, context, or sense otherwise
requires:
(1) “Arrangement” means any contract, agreement, plan, or understanding whether expressed or implied and whether or not enforceable in legal proceedings.
(2) “Associate” has the meaning in section 515 of this title.
(3) “Authority” means the FSM Unified Revenue Authority established under section 711 of this title.
(4) “Board” means the Board of Directors of the Authority appointed under chapter 7 of this title.
(5) “CEO” means the Chief Executive Officer appointed under chapter 7 of this title.
(6) “FSM” means the Federated States of Micronesia.
(7) “Installment of tax” means an installment of tax payable under chapter 5 of this title.
(8) “Late payment interest” means late payment interest imposed under section 865 of this title.
(9) “Net profit tax” means net profit tax imposed under chapter 5 of this title.
(10) “Objection decision” means the decision referred to in section 819(5) of this title.
(11) “Person” means an individual, company, corporation, partnership, unincorporated association or other business entity, trust, estate, government, political subdivision of a government, or public international organization.
(12) “Prescribed” means prescribed by the Secretary in regulations.
(13) “President” means the President of the FSM.
(14) “Presumptive tax” means the presumptive tax imposed under chapter 5 of this title.
(15) “Private ruling” means a ruling made under sections 858, 859, 860, 861, and 862 of this title.
(16) “Public ruling” means a ruling made under sections 855, 856, and 857 of this title.
(17) “Representative” means:
(a) in the case of an individual under a legal disability, the guardian or manager who receives or is entitled to receive income on behalf, or for the benefit, of the individual;
(b) in the case of a company or corporation, the chief executive officer, public officer, managing director, or any director of the company;
(c) in the case of a partnership, any partner in the partnership;
(d) in the case of a trust, any trustee of the trust;
(e) in the case of an unincorporated association or other business entity (other than a company, corporation, or partnership), any individual responsible for accounting for the receipt or payment of moneys or funds on behalf of the association;
(f) in the case of the National or a State Government, or a local authority in the FSM, any individual responsible for accounting for the receipt or payment of moneys or funds on behalf of the Government or local authority;
(g) in the case of a foreign government, political subdivision of a foreign government, or public international organization, any individual responsible for accounting for the receipt or payment of moneys or funds in the FSM on behalf of the government, political subdivision of the government, or organization;
(h) in the case of a non-resident person, any person controlling the person’s affairs in the FSM, including any manager of any business of such person and, in relation to customs, the person’s customs agent; or
(i) in the case of a person to whom section 826 of this title applies, the trustee of the person under that section, and includes any person that the CEO has, by notice in writing, declared to be a representative of a person for the purposes of this chapter.
(18) “Revenue law” means:
(a) any chapter under this title;
(b) a law of the FSM imposing a tax or duty if the law provides that the Authority has the responsibility for administering the tax or duty; and
(c) a law of a State imposing a tax that the Authority is permitted to administer by virtue of the laws of such State.
(19) “Revenue officer” means the CEO and any officer of the Authority appointed under section 732 of chapter 7 of this title.
(20) “Secretary” means the Secretary of the FSM Department of Finance and Administration.
(21) “Self-assessment” means a self-assessment of net profits tax, presumptive tax, or VAT.
(22) “Self-assessment return” means a tax return required to be furnished by a self-assessment taxpayer.
(23) “Self-assessment taxpayer” means a person liable for net profit tax, presumptive tax, or VAT.
(24) “State” means a State of the FSM.
(25) “Tax” means any tax, duty, or penalty imposed under a revenue law, and includes an installment of tax and withholding tax.
(26) “Tax assessment” means:
(a) an assessment of wages and salaries tax under section 152 of this title;
(b) a self-assessment;
(c) an assessment under subchapter III of this chapter, including an amended assessment; and
(d) an assessment of penalty under section 870 of this title.
(27) “Tax decision” means:
(a) a tax assessment; or
(b) a decision in relation to a revenue law on any matter left to the discretion, judgment, direction, opinion, approval, consent, satisfaction, or determination of the CEO, other than such decision made by the CEO in relation to the making of a tax assessment or to take action on subchapter VI of this chapter.
(28) “Tax period” means:
(a) in the case of tax imposed on wages and salaries payable by the employer by withholding under section 132 of this title or payable by the employee under section 138 of this title, the quarter;
(b) in the case of the net profits tax or presumptive tax, the tax year;
(c) in the case of installments of net profit tax, the period to which the installment relates;
(d) in the case of tax withheld from a payment under chapter 5 of this title, the period to which the withholding relates;
(e) in the case of VAT, the VAT period; or
(f) in any other case, the period for which the tax or duty is reported.
(29) “Tax return” means a return required to be filed under a revenue law.
(30) “Tax warrant” means a warrant issued under section 835 of this title.
(31) “Taxpayer” means a person liable for any tax or duty imposed under a revenue law and includes:
(a) an employer liable to withhold tax from a payment of wages and salaries under section 132 of this title; and
(b) a person liable to withhold tax from a payment under chapter 5 of this title.
(32) “Taxpayer Identification Number” means a Taxpayer Identification Number issued under section 846 of this title.
(33) “VAT” means valued added tax imposed under a revenue law.
(34) “Wages and salaries tax” means the tax imposed under section 121 of this title.
(35) “Withholding tax” means the amount that a payer is required to withhold from a payment as tax.
Source: PL 17-50 § 3.
Editor’s note: The reference in subsection (2) of this section refers to a section 515 of this title and the references to chapter 5 of this title in subsections (7), (9), (14), (28)(d), and (31)(b) refer to a chapter 5 that does not exist. C.B. No. 17-16, the Net Profit Tax Act, proposed to add a new chapter 5 of this title. Thus, the Revenue Administration Act, P.L. 17-50, makes multiple references to a chapter 5, since the plan was to pass the Net Profit Tax Act as soon as all four FSM states adopted a VAT. Since all four FSM states did not adopt a VAT, the Net Profit Tax Act was never enacted and chapter 5 of this title 54 remains reserved.
When this chapter applies in respect of a revenue law, any term not defined in this chapter has the meaning that it has for the purposes of the revenue law.
Source: PL 17-50 § 4.
Editor’s note: Section 1 of PL 17-50 designated sections 801, 802, and 803 of chapter 8 as subchapter I entitled General Provisions. Sections 2, 3, and 4 of PL 17-50 repealed their current sections and enacted new sections as set forth below. Sections 5 and 6 of PL 17-50 repealed sections 804 and 805, respectively.