‘Businesses must issue receipt for every transaction’—DOF

Posted on Nov 06 2018

Tag: business, CNMI, Public Law, Sales Receipt Act

The Department of Finance and the Division of Revenue and Taxation advise all businesses to ensure an accurate record of sales through the issuance of receipts or proof of purchases that include, but are not limited to, electronic or manual receipts.

Finance Secretary Larrisa Larson stated that, while commercial sales continue throughout the Commonwealth and utilities are restored over time, affected business are still required to issue manual sales receipts for all business transactions.

Since the establishment of Public Law 18-35, which provided revisions to the Sales Receipt Act, purposely failing to produce business record of transactions and failure to comply is punishable by fines ranging from $350 to $1,500, depending on subsequent offenses.

Dishonest business operators cause a significant loss of revenue to the CNMI and more than three violations will trigger an automatic revocation of business licenses.

For more information, log on to www.cnmidof.net or call 664-1100. (PR)

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