More rebates next week
The Department of Finance expects to issue the second batch of tax rebates next week, amounting to about $2 million.
Finance Secretary David Atalig told Saipan Tribune yesterday that his office is expecting to roll out the next batch of tax rebates for fiscal year 2018 next week.
“We distributed about $7.48 million in [tax rebates] last Friday and about $850,000 in child tax rebate,” he said in a statement. “We will be processing the next batch of about $2 million, which will be released within the next week and the fourth batch of child tax rebate.”
Atalig did not mention how much of the child tax rebate has already been distributed.
He mentioned in a previous statement that the rebates total nearly $21 million, $11 million of which is for the federally-funded child tax rebate.
“…We have sufficient funds for the tax refunds,” he told Saipan Tribune, replying to a query whether the Torres administration has enough money to cover the costs.
He previously affirmed that the tax refund money was temporarily used for Super Typhoon Yutu recovery, causing a delay in the release of the annual tax rebates for fiscal year 2018. Tax rebates are usually distributed around the end of May or early July.
“…With the governor’s emergency declaration for the response and recovery of Super Typhoon Yutu, all monies were used to get us through. Unfortunately, we were not reimbursed as quickly as anticipated, therefore I couldn’t replenish it to the levels needed for the full refund,” Atalig previously said.