journal@ntamar.net or marshallislandsjournal@gmail.com
November 21, 2014
News Update
Presidential candidates being vetted by CMI
College of the Marshall Islands (CMI) hopes to name a new CMI President in the next few weeks. After three candidates for the position were shortlisted recently, the college earlier this month began interviews with the top three candidates for the post. The final candidate to be interviewed is expected to be in Majuro at the beginning of November. A decision on a new president could be made any time after the final interviews and meetings with CMI students and staff are completed in early December. Current CMI President Carl Hacker was to have ended his contract this month, but was extended into next year to allow for a smooth transition to a new president.
Read more about this in the November 28, 2014
edition of the Marshall Islands Journal.
To subscribe to the Journal, email the Journal at: marshallislandsjournal@gmail.com
Marshall Islands Basketball Nation
What does Uliga Elementary School sixth grader Greg Saul, Assistant Attorney General Eric Iban, Do It Best General Manager Larry Hernandez and US Ambassador Tom Armbruster have in common? The answer is quite simple: They all got game. The Marshall Islands is a nation where basketball knows no age limit — where sons, daughters, moms, dads and in some cases grandfathers play competitive basketball. Whether it was in the recent 14th BOMI Ralik Ratak Shootout at SSG Sam complex in CMI, or the newly resurrected elementary tournament at the coincidentally newly resurrected mini-basketball court in Delap Park, or the ongoing Veterans 3-on-3 Tourney in Lojkar, basketball is our common ground.
Photos: Hilary Hosia.
An agreement that will require local banks to share information on bank accounts held by American citizens with the US government has been approved by the RMI government and is in the pipeline to approval. The development comes as a result of implementation of the US Foreign Account Tax Compliance Act (FATCA) approved by the US Congress in 2010. Implementation of the inter-governmental agreement between the RMI and the US would allow local financial institutions to transmit private financial data of American citizens through the RMI government to the US Treasury Department to be shared with the Internal Revenue Service (IRS). According to a report critical of FATCA legislation, the law “gave institutions the impossible choice between violating local privacy laws to comply with FATCA or facing FATCA’s stiff penalties and sanctions.” Although FATCA could face repeal after January when the Republican-controlled US Congress is sworn in to office, it is currently being used as part of ramped up enforcement by the US government for collecting taxes from Americans outside the United States. The Europe-based
Organization for Economic Cooperation and Development (OECD) is also putting similar pressure on other countries to gain access to account information of citizens of these European countries from banks and other financial institutions in non-OECD countries. The G20 nations and OECD are pushing for automatic transmission of tax information between governments. RMI has signed more than a dozen tax information exchange agreements with countries over the past several years. The latest agreement related to FATCA is said to be pending review and approval from the US Treasury Department. Once approved, it will provide for transmission of details of bank accounts held by any Americans at Bank of Marshall Islands and any other local financial institutions.
Whose is the biggest? – Okay, okay, everyone knows Kwajalein has the largest lagoon in the Marshalls. But what atolls come next, and which have more islands? We turned to the Guide to Place Names in the Trust Territory by EH Bryan, Jr.. . . See more
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Marshall Islands Journal • P.O. Box 14
Majuro, Marshall Islands MH 96960