Experts convene in NMI to tackle tax issues

Tax managers from United States territories throughout the Micronesia and Caribbean gathered on Saipan beginning yesterday for a week-long conference aimed at identifying solutions to revenue-related problems and concerns faced by each individual area, and the region as a whole.

Representatives from the United States Internal Revenue Service will join tax administrators and revenue officials from the CNMI, Virgin Islands, American Samoa, Guam and the Republic of Palau which started at the Aqua Resort Club yesterday.

The conference will present issues on recent tax changes, trust regulations, service center issues and child tax credit.
Other suggested topics for discussion include criminal investigation interests, joint software and hardware development, and strategies for funding assistance from the Office of Insular Affairs.

CNMI Department of Finance consultant Rufin Inos made a presentation of the commonwealth’s recently-implemented Tax Integration Project which automated the revenue and duty collection and processing system in the Northern Marianas.

“This is an excellent venue to solve some of the administrative issues tax administrators face. We hope to resolve the issue of cross-credit verification between the Commonwealth, Guam and the United States for employees who have worked in more than one location,” Mr. Inos said.

Meanwhile, the new tax system has allowed the CNMI to fast-tracked the processing and releasing of rebate and refund checks this year, according to Finance Secretary Lucy Nielsen who also discussed plans by the Commonwealth government to improve revenue-generating capabilities.

Ms. Nielsen said the CNMI government has increased efforts at identifying ways to be able to efficiently and effectively utilize the Commonwealth’s resources to meet the needs of the community.

“We are also looking at implementing new strategies for this mission to succeed. We have persistently tried to meet the challenges in order to mitigate the downturn in overall financial situation,” she told participants to the conference.

She said the Tenorio Administration has consistently worked at efficiently and effectively use the Commonwealth’s resources, including personnel, finance and facilities to streamline the government’s operations.

Ms. Nielsen added the government also aims to re-focus its operations to more effectively meet the changing needs of the Northern Marianas. “There has been a lot of changes in the things that we have done since the onset of the economic downturn.”