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Sales receipt inspection bill goes to Senate
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Posted on May 29 2006
The House of Representatives has passed a bill that would subject businesses to periodic inspection to ensure they provide customers with sales receipts.
House Bill 15-113, introduced by Reps. Ray Yumul and Jacinta M. Kaipat, will now go to the Senate for action.
The proposed legislation seeks to require the Division of Revenue and Taxation within the Department of Finance to conduct quarterly inspections of all business establishments during normal business hours for the purpose of ensuring that they properly account their sales.
“The Legislature finds that since the enactment of the Sales Receipt Act of 2002, the CNMI government needs to establish additional control mechanisms to further ensure that sales transactions producing gross revenue are accurately reported for tax revenue purposes,” states a portion of the bill.
“The Legislature further finds that, unfortunately, some people and businesses continue to habitually under-report their revenue receipts by failing to properly account for daily sales transactions. Under-reporting deprives the CNMI government of much-needed revenue and gives an unlawful competitive edge to tax violators,” the measure adds.
According to H.B. 15-113, any person who is not provided with a sales receipt should report the incident to the Division of Revenue and Taxation. Any business establishment reported to have violated the sales receipt claw would be investigated and monitored.
