Tax rebates out in a few weeks’ time

The release of tax rebates for the CNMI is on schedule and will commence in a few weeks.

Department of Finance Secretary Larissa Larson told lawmakers on Capital Hill that the rebates “will be out in the near future” and “within the next month.”

The Finance chief also asked for patience and that the checks will be “out soon.” She did not say the exact date but said this will be one of the “fastest” releases that the department will be conducting.

Lawmakers welcomed the news, saying the tax rebates can give a “spark” to the CNMI’s economy.

Rep. Antonio P. Sablan (Ind-Saipan) noted that the community “will welcome the incoming funds.”

Larson was on Capital Hill on Tuesday during a budget hearing for her department.

Back in April, Larson said her department is working to release tax rebates in the Commonwealth well before the start of the school year in September.

She said the department is working to process the early release of the rebates, but if employees have an immediate need for funds, they can apply for a bank loan “against the rebate.” One of those banks is the Bank of Saipan.

Priorities

During the budget hearing at Capital Hill, the Finance department has requested a budget of about $2.1 million, while the government’s budget proposal is about $1.2 million.

According to Larson, one of the priorities of her department is to hire a lawyer specializing on tax. She said a candidate has been identified who is not just a tax lawyer, but also a certified public accountant.

She emphasized to lawmakers the need for the tax lawyer. “We need the legal support,” Larson said.

The House Committee on Ways and Means has been conducting the budget hearings on government agencies in the past few weeks.

Rep. Joseph “Lee Pan” Guerrero, who attended the hearing, said he “is concerned” that the Division of Customs, which is under the Department of Finance, is not getting more funding.

“They (Customs agents) are at the front line. I am concerned that they are note getting more funding support,” the lawmaker said.

He said he understands the importance of the Finance secretary’s functions, but he suggested streamlining some of the budget to go to Customs.

Customs Director Joe Mafnas, who was also at the hearing, said the division badly needs agents, particularly during this time that the entry of illegal drugs into the CNMI is increasing at an alarming rate.

Mafnas, however, clarified that the Finance secretary is “very supportive” of the needs of the division. Mafnas is asking for 18 more personnel to add to the 46 staff currently manning the Customs Division.