Gov. Ralph DLG Torres signed into law late last month a bill to remove the tax exemptions for personal and office computer products.<\/p>\n
The bill also authorizes the secretary of the Department of Finance to classify new products for taxation purposes.<\/p>\n
House Bill 19-115, now Public Law 19-46, calls this tax exemption an \u201cunnecessary provision.\u201d<\/p>\n
It says that the tax exemption for personal and office computer equipment was originally intended to keep prices of such items at an affordable rate for consumers.<\/p>\n
\u201cHowever, the daily use of computers have become part of our daily lives, but most importantly the abundance of such technology has allowed a significant reduction in costs compared to what it used to be,\u201d the bill states.<\/p>\n
The bill, offered by Rep. George N. Camacho (R-Saipan), says such a tax exemption on these items has exceeded its need.<\/p>\n
The exemption also further prevents the Commonwealth from collecting much needed revenue generated from these sales, the bill states.<\/p>\n
The bill says the Legislature found that these amendments were needed to existing statue through consultation with the Division of Customs, under the Department of Finance.<\/p>\n","protected":false},"excerpt":{"rendered":"
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