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Marshall Islands Revised Code 2012

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Tax Information Exchange Agreement (Execution and Implementation) Act 2010 [48 MIRC Ch.4]

MARSHALL ISLANDS


REVISED CODE 2012


TITLE 48


TAXATION


CHAPTER 4


TAX INFORMATION EXCHANGE AGREEMENTS


ARRANGEMENT OF SECTIONS


Section
401. Short title.
402. Objectives.
403. Powers of the Minister.
404. Power to promulgate regulations.
405. Force of Law.
406. Savings.


____________________


An Act to provide for the execution and implementation of Tax Information Exchange Agreements ("Agreements") between the Government of the Republic of the Marshall Islands and individual foreign governments.


Commencement: February 22, 2010

Source: P.L. 2010 - 34


§401. Short title.


This Chapter may be cited as the Tax Information Exchange Agreement (Execution and Implementation) Act, 2010.


§402. Objectives.


The objectives of this Chapter are:


(1) to provide for the implementation and execution of Tax Information Exchange Agreements between the Government of the Republic of the Marshall Islands and individual foreign governments; and

§403. Powers of the Minister.


The Minister of Finance shall:


(1) execute and implement any and all Agreements as approved by the Cabinet pursuant to this Chapter;


(2) pursuant to the terms of any Agreement executed under this Chapter:


(a) use all relevant information gathering measures, to the extent allowable under the laws of the Republic of the Marshall Islands, to provide any and all information requested under the authority of any Agreement executed pursuant to this Chapter; and

§404. Power to Promulgate Regulations.


The Cabinet may promulgate rules and regulations to carry out the provisions of any and all Agreements executed pursuant to this Chapter .


§405. Force of Law.


Any Agreement executed pursuant to this Chapter shall have the force of law of the Republic of the Marshall Islands.


§406. Savings.


This Chapter shall not:


(a) invalidate the execution, acknowledgment, initialization, or negotiation, of any prior Agreement between the Government of the Republic of the Marshall Islands and any individual foreign government.


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