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Rebates may be out by June 15
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Posted on May 14 2009
Lt. Gov. Eloy S. Inos said yesterday that approximately $10 million in calendar year 2008 tax rebates will be distributed, some of them as early as June 15—much earlier than the distribution dates during previous years.
Due to an economic slowdown, taxpayers look forward to their tax rebates to supplement their regular income.
Inos, who has been tasked by Gov. Benigno R. Fitial to oversee all government finances, said the government cannot hold back on taxpayers’ rebates.
“It’s their money…It’s the only way to give people confidence in the system,” Inos said in an interview at yesterday’s opening of the 2nd Annual Pacific Mayors Conference at the Fiesta Resort & Spa in Garapan.
He said the administration has made sure there’s money in the rebate trust account, but the exact amount in the account has yet to be determined as of yesterday.
“We may be able to start mailing out the checks by June 15,” added Inos, a former Secretary of the Department of Finance.
The administration expects the tax rebate releases to have a positive effect on local consumers and struggling businesses.
A 41-year-old father of two said once he and his wife get their joint tax rebate, they would have pocket money for their long-awaited vacation. He said in previous years, he and his wife would receive $600 to $700 in tax rebate.
“We haven’t had a vacation in three years, and the tax rebate would be a big help,” he said.
In 2008, taxpayers began receiving their 2007 tax rebates in the mail in August.
