Saipan – Whether intentional or not, the Saipan casino bill that recently passed the Legislature and headed to the desk of Gov. Eloy Inos has language scrapping the tax rebate for everyone in the CNMI except for the exclusive Saipan casino license holder.
The Saipan Tribune reports that the bill leaves out the tax relief provision specific to the tiered rebate offset amount. Under current law, for instance, taxpayers with $20,000 or less in rebate base gets a rebate of 90 percent of the base amount.
Saipan Chamber of Commerce president Alex Sablan said the tax rebate is one of the last real investment tools to attract investors in the CNMI.
Sen. Paul Manglona, one of the four senators who voted “no” to the bill on Tuesday night, is also on quandary and asked whether the Saipan casino bill indeed will wipe put tax rebates.
Asked for comment about the issue, press secretary Angel Demapan said the Inos administration does not want to scrap the tax rebate program.