The Department of Finance remitted to the Marianas Visitors Authority yesterday $500,000 in hotel occupancy tax collection, according MVA managing director Priscilla M. Iakopo.<\/p>\n
Iakopo told Saipan Tribune that Finance also remitted to MVA $400,000 in hotel occupancy tax last July 9 and another $480,000 last July 30.<\/p>\n
She said the $880,000 total remittance in July covers the January 2019 hotel occupancy tax only.<\/p>\n
The $500,000 remittance, on the other hand, covers the remaining January 2019 hotel occupancy tax and partial of February 2019.<\/p>\n
She said that, as of June, Finance still owes MVA $4.7 million in hotel occupancy tax.<\/p>\n
With respect to MVA\u2019s offshore offices, Iakopo said they will pay a total of $520,000, which are the 90-days-and-over in payables.<\/p>\n
\u201cOnce that is paid, we will have a balance of approximately $700,000\u201d covering the May and June 2019 invoices, she said.<\/p>\n
MVA has not received the July invoices in full.<\/p>\n
Iakopo, on the other hand, said the MVA board has approved retaining the austerity measures for MVA personnel at 72 hours.<\/p>\n
\u201cThe board agreed to use the \u2018building fund\u2019\u2014approximately $260,000\u2014to pay remaining 90-days-and-over payables,\u201d she said. <\/p>\n
Saipan Tribune learned that the \u201cbuilding fund\u201d is a funding source MVA has been putting aside to build its own permanent building.<\/p>\n
The lease of the MVA building in San Jose expires in two years. <\/p>\n
Early last month, Rep. Joseph \u201cLee Pan\u201d T. Guerrero (R-Saipan) urged Finance to transmit the $5.1 million in hotel occupancy tax collection that is owed MVA, saying Finance is technically violating the law by failing to remit the fund.<\/p>\n
Guerrero, who chairs the House Committee on Commerce and Tourism, said MVA is currently in the 90-day aging of non-payment to its offshore offices in the amount of $1.9 million.<\/p>\n
He said these offshore offices are there to promote the CNMI and MVA cannot pay them because of Finance\u2019s failure to remit what is due the MVA.<\/p>\n
Under the law, 80% of the hotel occupancy tax collection goes to MVA, while the 20 percent goes to the Settlement Fund. <\/p>\n","protected":false},"excerpt":{"rendered":"
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