News

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 […]

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

On March 13, 2025, the Ministry of Finance, Banking & Postal Services, supported by the Chief Secretary and Chairperson of the Budget Coordinating Committee and the Secretary of MOFBPS, successfully launched the FY2026 Budget Development Workshop. Day 1 focused on macro-level budget formulation, covering: Heads of Department, senior staff, and technical budget teams actively participated,

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

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

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

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

This Policy Note explores comprehensive tax reform strategies for the Republic of the Marshall Islands (RMI), aiming to modernize its outdated tax system. The RMI is currently benefiting from strong economic performance… Read Article Here

The Republic of the Marshall Islands (RMI) is working to boost international trade by modernizing its customs procedures through the eventual roll-out of ASYCUDAWorld, the UNCTAD ASYCUDA Programme’s latest customs management system. A mobilization seminar was held in RMI on 3 May 2023, ahead of the planned ASYCUDAWorld launch in 2024, to help government agencies,