27 Jun 2006

No tax rebates in Northern Marianas

10:10 am on 27 June 2006

The cash strapped Northern Marianas government says it will not be able to release tax rebates for the 2005 fiscal year.

Finance Secretary Eloy Inos said it is not even certain if the government can settle within the year the remaining 2004 rebates.

He said the 2005 rebates may be released in 2007.

Mr Inos told the Marians Variety when the Fitial administration came on board unpaid rebates amounted to 15 million US dollars covering fiscal years 2003 and 2004.

He says as of this year that liability has been reduced to about 8 million US dollars.