25 Apr 2012

Six million US dollars in tax refunds pumped into American Samoa

10:25 am on 25 April 2012

Just over six million US dollars has been pumped into the American Samoa economy since late January due to tax refund cheques released by the government's Treasury Department.

As of last week 6.39 million in tax refunds have been issued to about 7,000 tax payers who qualified to receive refunds.

The Governor Togiola Tulafono says the new money will provide additional buying power for local consumers.

He says the money, which circulates in the community, will boost the local economy during difficult times.

The largest contributor for the tax refunds, which totals four million, comes from the United States Treasury Department under the Additional Child Tax Credit, for tax payers who claim children 17 years and younger as dependents.