Ministry of Finance, Banking and Postal Services

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