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The Senate Finance Committee on Friday passed a tax amnesty bill to help Virgin Islander face difficult financial times brought on by the COVID-19 pandemic.
Governor Albert Bryan Jr. announced on Wednesday that the Virgin Islands Department of Finance has issued $10,101,884 in income tax refunds.
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.
With nine days cash available in V.I. government coffers, as of Wednesday, the urgent civic obligation to pay our income taxes on time – by April 15, as we would have if the pandemic had not offered an opportunity to hold on to a few bucks for an additional three months – seems obvious.
Gov. Albert Bryan Jr. has unveiled legislation broadening the territory's new medical cannabis law, with new taxes directed mostly to the failing Government Employees Retirement System, as well as new rights for Rastafarians and other changes.