Previous Story
Finance urged to have ‘Big Brother’ computer
|
Posted on Oct 07 2005
To avoid under-reporting of business gross receipts, the House of Representatives is suggesting that the Department of Finance install a central computer system that is linked to all businesses to monitor their transactions.
In House resolution 14-145, the House said that each year some businesses under-report their BGR and engage in illegal activities to defraud the CNMI government. The Finance and the Commerce departments lack the enforcement capability and funding required to investigate and monitor each business establishment.
“A more effective way of enforcing the CNMI tax law is to install within the Department of Finance a central computer system that is linked to all businesses in the CNMI so as to monitor all business gross receipts,” reads part of the resolution.
It said all businesses would be required to be connected to the central computer.
The House said that this central computer system is used in many states in the United States, including Hawaii.
“The CNMI government would realize millions of dollars in revenue if this central computer system existed within the Department of Finance,” said the resolution.
Finance collects an average of $171 million in total taxes a year.
The resolution unanimously passed the House during a recent session.
