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Tuesday, December 1, 2020
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Canvassing Has Increased Tax Collection Rates, BIR Director Says

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.
Gov. Albert Bryan Jr. (Source photo by Shaun A. Pennington)

Bryan Proposes Selling Territory’s Federal Rum Tax Revenue Stream

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.
An empty runway at the Cyril E. King Airport will be a common sight in upcoming months as airlines reduce their number of flights. (Source photo by Bethaney Lee)

COVID-19 Slashes Port Authority’s Marine and Aviation Revenue

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.

Executives Say WAPA Will Be Transformed By 2024

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.

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