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2002 rebates out next week
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Posted on Jul 29 2004
By Friday next week, nearly all rebate and refund checks for tax year 2002 would be released to taxpayers, Finance Secretary Fermin Atalig said yesterday.
The government is pinning its hopes on the payment of business gross revenue taxes early next week to fund the rebate payments.
Of some $20 million worth of rebates for tax year 2002, only a total of $4.3 million remains to be disbursed. Some taxpayers reportedly received their rebate checks this week.
If the BGRT payments are received early next week, Atalig said nearly all unpaid rebates would be satisfied by Friday, except for those whose income tax returns have discrepancies with withholding taxes submitted by the employers.
Only less than $1 million worth of rebate checks belong to those whose tax return submissions had these discrepancies, Atalig said.
The government initially failed in its target to release 2002 rebates by the end of June; and 2003 rebates, sometime this month.
Atalig said the CNMI Treasury could start releasing 2003 rebates by the end of August, after 2002 rebates would have been released.
