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Over $10.1 million rebates issued in FY 2016
With the opening of the new fiscal year, over $10.1 million in taxes were paid out in fiscal year 2016 in the form of rebates, according to Finance Secretary Larrisa Larson.
“About 86.6 percent of taxes have been paid out to individual taxpayers, and the remaining percentage is awaiting filing clearance for errors. We expect that, as soon as more taxpayers clear any issues, the rebates will amount to over $11.68 million. We are encouraging those who have yet to receive their tax rebates to call our division for assistance,” Larson said.
Larson noted that the Division of Revenue and Taxation has taken significant steps to speed up the processing time of returns.
“We anticipate an even faster release for tax year 2017 filings and, as soon as forms are ready, we will announce its availability to the general public,” Larson said.
Acting governor Arnold I. Palacios added that Finance personnel put in long hours and hard work into ensuring the timely release of taxes.
“In my consultations with both Gov. Ralph DLG Torres and Lt. Gov. Victor B. Hocog, we are steadily improving our efficiency with available resources and are pleased that [fiscal year] 2016 was one of the fastest disbursements in the history of DOF. There is more progress ahead of us and we hope to develop more efficient methods in the coming years,” Palacios said.
For assistance from Revenue and Taxation, call 664-1000 or 664-1040 or visit the Department of Finance online at www.cnmidof.net. (PR)
