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Only less than 3 weeks before tax amnesty expires
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Posted on Dec 12 2013
Finance Secretary Larrisa Larson and House Ways and Means Committee chair Rep. Tony Sablan (Ind-Saipan) separately encouraged yesterday those with back taxes to avail of the new tax amnesty program, the forms for which are available at the Division of Revenue and Taxation beginning today.
This comes nine days after Gov. Eloy S. Inos signed the tax amnesty law, Public Law 18-29, on Dec. 4. This is only the third time that the CNMI government has offered a tax amnesty.
Under the tax amnesty program, taxpayers may request for the waiver of penalty and interest imposed on late-filed returns, under-reported income, and delinquent tax liabilities. A special return and a request for waiver form must be filed to participate in the program.
Larson said the tax amnesty program will expire on Jan. 2, 2014.
“We encourage taxpayers who wish to avail of the amnesty program to come in and file well before the deadline to avoid longer lines and wait time if they file closer to the deadline,” Larson told Saipan Tribune.
Sablan, author of the bill that became the tax amnesty law, said there won’t be any telling how many will avail of the amnesty until the expiration date but he is encouraging those with back taxes to avail of the program.
“I hope people will come forward and take advantage of this program,” he added.
He said tax amnesty is one of the most effective ways to generate additional revenue during difficult times without raising taxes.
In a separate statement, Finance said the special returns and request for waiver form will be available at the Division of Revenue and Taxation beginning today.
“To learn more about the amnesty program, contact the Division of Revenue and Taxation at 664-1098 or visit the Dandan Office. Additional information will be available at the Department of Finance website at www.cnmidof.net,” Finance said.
The CNMI government provided tax amnesty programs in 2001 and 2005 through Public Laws 12-51 and 14-28, respectively, in an effort to collect outstanding tax revenues.
Taxpayers who already received amnesty under these two previous programs are no longer eligible for tax amnesty under P.L. 18-29.
