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June 30, 2008 – In an effort to provide relief to small business owners while still generating revenue from outstanding taxes, Senator Louis Patrick Hill urged Governor John de Jongh to sign the Gross Receipts Amnesty into law.
"Bill 27-0200, which went to the Governor for action last Tuesday, contains several important provisions aimed at easing the financial burden our residents are experiencing due to the rising cost of everything," stated Senator Hill.
Penalties and Interest on outstanding gross receipts will be forgiven, allowing business owners some breathing room as costs across-the-board continue to rise.
Another critical measure included in the bill is a 7 year Statute of Limitations on property taxes. "Forcing property owners to prove payment for taxes dating back as far as 1990 is unnatural as well as a very bad business practice," said Hill. "By signing this provision into law, Governor de Jongh will show his willingness to hold his agencies and departments culpable for their operations and raise Government accountability to a new level. The burden of proof for delinquent taxes after 7 years will now fall on the Tax Assessor's Office and not on residents." Senator Hill concluded by saying these are just two of many measures that he has introduced at the Legislature which strive to deliver an antidote for the Virgin Islands current economic affliction, and which offer immediate assistance to our business community and to our homeowners.
