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IPI, DOF talk of tax settlement
Both Imperial Pacific International (CNMI) LLC and the CNMI Department of Finance are in negotiation for a possible tax settlement covering some periods within fiscal years 2017 through 2019.
Saipan Tribune learned over the weekend that IPI is claiming that it is owed a tax credit based on its amended tax filings.
“We are very close to finalizing our agreement,” said Finance Secretary David Atalig. He noted that both IPI and the Department of Finance have already agreed in concept but not in a legal, official agreement yet.
Atalig noted that he cannot disclose at this time the amount that, according to IPI, the CNMI government owes.
“…Privacy and disclosure rules and regulations prevent me from sharing taxpayer information,” he said, adding that he could not disclose the amount even to the Legislature.
According to Atalig, IPI can only amend the Business Gross Revenue Tax it paid for April 2017 and onwards.
“When [IPI] submitted an amendment, it was around April 2019 so they can only go back to April 2017 to current,” he told Saipan Tribune. He affirmed that IPI is claiming that they paid more than what they were supposed to in BGRT, according to an amended tax filing.
