Customs to host a stakeholder meeting on excise tax payments
The CNMI Division of Customs will hold an informational meeting on April 1, 2021, with importers, taxpayers and their agents to explain the new the law requiring the payment of excise tax prior to the release of cargo.
Public Law 21-42 mandates excise tax payments shall be made upon entry and prior to the release of goods, commodities, resources or merchandise. Importers may apply for a 30-day grace period provided the business meets all the required criteria: a CNMI business license for at least two years; a valid tax identification number; a minimum of one-year compliance with Customs import laws and regulations; and obtain a tax clearance from the Division of Revenue & Taxation for a two-year period.
The Q&A meeting will be on Thursday, April 1, 2021. from 9:30am to 11am at the Pedro P. Tenorio Multi-Purpose Center in Susupe. Only 50 importers or businesses are allowed inside the facility. All attendees must pre-register by calling 664-1610 or complete the RSVP form https://forms.gle/oap3yQBZzerf1qYA6. (PR)
