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The Virgin Islands Bureau of Internal Revenue’s collection rates are up this fiscal year, with a 7 percent increase in total revenue collections and a 20 percent increase in outstanding balance collections compared to the 2019 fiscal year, said BIR Director Joel Lee.
In an apparent bid to reassure potential lenders and save millions on interest, Gov. Albert Bryan Jr. proposed legislation to create a special semi-autonomous government-owned corporation and sell the rights upwards of $200 million per year in federal alcohol excise tax revenues.
The additional 100 day “No Sail” order put out by the Centers for Disease Control, in combination with airlines pulling flights from their schedules, has impacted the Virgin Islands Port Authority.
The Virgin Islands Water and Power Authority promised improved efficiency, resiliency and greater renewable penetration, as part of a five-year transformation plan presented by WAPA Executive Director Lawrence Kupfer at the Revenue Estimating Conference.