received compensation, one was Taiwanese, while the rest were Palauan, Filipino and US citizens. Mr. Toribiong said, "The fund for the payout came from the balance of Palau government's loan from Taiwan." From a total of $1 million USD, which originally was for assisting Palau's development, there was $955,000 USD left at the time of bankruptcy. For the $955,000, Toribiong requested the Taiwanese government use it to repay its loans. Taiwan agreed to the request. The compensation will start its paying to depositor, who held less than $4,000 USD in the account.
Taxes are moderate, the income tax has 3 brackets with medium rates (9.3%, 15% and 19.6%), corporate tax is 4% and general sales tax is 7.5%. There are no property taxes
