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BIR to Hold Workshop for Timeshare Owners on New Environmental, Infrastructure Impact Fee

The Virgin Islands Bureau of Internal Revenue (BIR) informs all timeshare owners and timeshare plan managers that a new environmental/infrastructure impact fee will be imposed in the territory.   The new fee will go into effect on May 1. The impact fee will be $25 per day of occupancy by the owner/user in the timeshare unit. BIR will conduct a workshop on the requirements of the fee at 10 a.m., Friday, May 5, at the St. Thomas and St. Croix BIR offices.

Pursuant to the law, the new fee will be collected by the timeshare plan manager and must be transmitted and paid within 30 days, following the last day of the month concerned to the BIR using Form 722EI.  In addition, the bureau has created a worksheet for the timeshare plan managers to produce upon inspection by the BIR.  The returns and the worksheets are available at the BIR offices on all three islands and on its Web site at www.vibir.gov.

Taxpayers with questions about new taxes should contact Joanna Meyers-Rhymer, deputy director of operations, at 715-1040, ext. 2241.

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