Responses to the Inquiries for RFP MOF2025-001 (IRAS)
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Unaudited Q1 Budget Report
5th June, 2025 This report provides a summary of budget execution for the first quarter of Financial Year 2025 for the Republic of the Marshall Islands. It presents unaudited expenditure data for the General Fund and Compact Fund covering the period from October 1 to December 31, 2024, based on information available to the Ministry
Request for Proposal: Integrated Revenue Administration System (RFP MOF2025-001)
21st May, 2025 The Division of Customs, Treasury, Revenue and Taxation (DCTRT) of the Ministry of Finance, Banking and Postal Services (MOFBPS) is soliciting proposals for a comprehensive, fully integrated taxation administration system (referred to as the “Integrated Revenue Administration System” or IRAS) FOR MORE INFORMATION, PLEASE REFER TO THE LINKS BELOW:
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It’s Playoff Time!
The MOFBPS Men’s team started strong in the first round of the playoffs, securing a thrilling three-set victory over CMI last night. Awesome game by both teams! Next up, the men’s team advances to the second round and will face MIAPE/MOFAT today at 7:00 PM at ECC. Be sure to come out and support the
That’s a Wrap! – FY 2026 Budget Development Workshop Day 2
On March 14, 2025, the Ministry of Finance, Banking, & Postal Services wrapped up the second and final day of its Budget Development Workshop. The event brought together technical staff from various Line Ministries and Government Agencies, focusing on key topics such as the Public Financial Management (PFM) Act, the Procurement Code, and the importance
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“Health is Wealth”
On February 10, the Ministry launched its three-month “Health is Wealth” Fitness Challenge to encourage healthy habits and physical activity. As we enter the final month, we want to wish all participants the best of luck—you’re almost there! Keep pushing forward! Kommol tata to our partner, the Wellness Center, for playing an important role in
Successful Completion of Public Financial Management Project: ADB Mission Exit Meeting Highlights Key Outcomes
On February 27, 2025, Finance Minister David Paul, Secretary Ayako Yamaguchi-Eliou, key Finance staff, and the ADB Reform Coordination Unit (RCU) held an exit meeting with the Asian Development Bank (ADB) mission team to discuss the outcomes of the “Public Financial Management Project” mission (February 24-27, 2025). The mission team highlighted the successful completion of
Senior Management Meeting: Progress, Future Plans, and Strategic Priorities
The Senior Management had a fruitful meeting to discuss key updates and future plans. Highlights include:• Current Activities: Progress on ongoing projects and solutions for challenges.• Future Plans: Upcoming initiatives with clear action steps and timelines.• Budget Monitoring: Review of financial status and strategies for cost management.• Aid Coordination: Improving collaboration for efficient aid delivery.• Service Efficiency: Enhancing internal processes and adopting new technologies. The
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Press Release – March 6, 2025: Amendment to the Income Tax Act 2025
The Ministry of Finance, Banking and Postal Services would like to inform all taxpayers of the most recent Amendment to the Income Tax Act 2025. The Amendment dictates the removal of the 16% tax rate and the establishment of the following tax rates on Wages and Salaries:i) 8% tax rate upon the first $10,400 of
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