The release of tax rebates for the CNMI is on schedule and will commence in a few weeks.<\/p>\n
Department of Finance Secretary Larissa Larson told lawmakers on Capital Hill that the rebates \u201cwill be out in the near future\u201d and \u201cwithin the next month.\u201d<\/p>\n
The Finance chief also asked for patience and that the checks will be \u201cout soon.\u201d She did not say the exact date but said this will be one of the \u201cfastest\u201d releases that the department will be conducting.<\/p>\n
Lawmakers welcomed the news, saying the tax rebates can give a \u201cspark\u201d to the CNMI\u2019s economy.<\/p>\n
Rep. Antonio P. Sablan (Ind-Saipan) noted that the community \u201cwill welcome the incoming funds.\u201d<\/p>\n
Larson was on Capital Hill on Tuesday during a budget hearing for her department.<\/p>\n
Back in April, Larson said her department is working to release tax rebates in the Commonwealth well before the start of the school year in September.<\/p>\n
She said the department is working to process the early release of the rebates, but if employees have an immediate need for funds, they can apply for a bank loan \u201cagainst the rebate.\u201d One of those banks is the Bank of Saipan.<\/p>\n
Priorities<\/p>\n
During the budget hearing at Capital Hill, the Finance department has requested a budget of about $2.1 million, while the government\u2019s budget proposal is about $1.2 million.<\/p>\n
According to Larson, one of the priorities of her department is to hire a lawyer specializing on tax. She said a candidate has been identified who is not just a tax lawyer, but also a certified public accountant.<\/p>\n
She emphasized to lawmakers the need for the tax lawyer. \u201cWe need the legal support,\u201d Larson said.<\/p>\n
The House Committee on Ways and Means has been conducting the budget hearings on government agencies in the past few weeks.<\/p>\n
Rep. Joseph \u201cLee Pan\u201d Guerrero, who attended the hearing, said he \u201cis concerned\u201d that the Division of Customs, which is under the Department of Finance, is not getting more funding.<\/p>\n
\u201cThey (Customs agents) are at the front line. I am concerned that they are note getting more funding support,\u201d the lawmaker said.<\/p>\n
He said he understands the importance of the Finance secretary\u2019s functions, but he suggested streamlining some of the budget to go to Customs.<\/p>\n
Customs Director Joe Mafnas, who was also at the hearing, said the division badly needs agents, particularly during this time that the entry of illegal drugs into the CNMI is increasing at an alarming rate.<\/p>\n
Mafnas, however, clarified that the Finance secretary is \u201cvery supportive\u201d of the needs of the division. Mafnas is asking for 18 more personnel to add to the 46 staff currently manning the Customs Division.<\/p>\n","protected":false},"excerpt":{"rendered":"
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