Micronesia

What special rules apply in Micronesia to the sale, issuance, or redemption of Giftcards? ›

Giftcard sales are permitted, particularly in tourism and trade. Electronic Giftcards are not widely used and are not subject to specific regulation.

What consumer rights apply in Micronesia for expired Giftcards? ›

There are no specific statutory rules on expired Giftcards. Merchants must clearly state expiry dates. Missing information may lead to voluntary refunds.

How are Giftcards treated for tax purposes in Micronesia (VAT, single-purpose / multi-purpose)? ›

Micronesia does not levy a classic VAT. Giftcards are recognised for tax purposes only upon redemption as income or turnover.

Is there a legal rule in Micronesia on the validity period of Giftcards? ›

In Micronesia there is no specific legal regulation on the validity period of Giftcards. Under contract law, a limitation period of three years applies. Merchants must clearly state expiry dates and conditions.