As a general rule, most products imported for resale are subject to import taxes with rates varying by product. Laundry Bar Soap. Cigarettes, other tobacco products, beer and other malt beverages, distilled alcoholic beveages, and wine are subject to import tax irrespective of whether they are imported for resale or personal use and consumption. In both cases an application for refund of the import taxes is required. All goods must be cleared within 15 days of arrival, or a penalty is payable.
All imports are subject to physical inspection.
Arrangements can be made however, for the quick clearance of perishable items. Internal Revenue Code, Section 936 is now extended to the Federated States of Micronesia. Even domestic corporation which have non-citizen shareholders may not own land. Non-citizen individuals and corporations may lease either public or private lands. Special importance is attached to land in Micronesia both because of its short supply and because of its traditional importance.