Vol. 34 No.251
       ©2007 Marianas Variety
Tuesday, March 6, 2007 www.mvariety.com
Serving the CNMI for 34 years
 

© 2007 Marianas Variety
Published by Younis Art Studio Inc.
All Rights Reserved
Email :
mvariety@vzpacifica.net
Finance to enforce ‘aggressive’ revenue collection system

By Gemma Q. Casas
Variety News Staff

THE Department of Finance says it will launch a “more aggressive” revenue collection system to raise more funds for the cash-strapped government.
In a report to Gov. Benigno R. Fitial, Finance Secretary Eloy Inos said they continue to closely monitor the stream of revenue collections amid findings that the projected revenue this year will be short by more than $30 million.
“We are closely monitoring revenue collections and will be reporting the status to you on a regular basis at shorter intervals,” said Inos.
“Concurrently, we are launching a major and aggressive revenue collection program that will include collection of outstanding taxes and other receivables from major debtors, including those owing to the Commonwealth Health Center,” he added.
The finance secretary attributed the steadily declining revenue collections to low garment production on Saipan and the diminishing number of tourists visiting the islands as a direct result of Japan Airlines’ pulling out of the CNMI more than a year ago.
“A detailed analysis of the trend in the collection stream confirms the continuing decline in the receipt of major revenue resources, especially those related to the apparel and visitor industries,” he said.
He added: “The net effect of the adjustments necessary to reflect a more realistic revenue projection for the year will require a reduction of approximately $30.198 million from the previously approved estimate of $193.483 million.”
In other news, the House of Representatives passed last week House Bill 15-235 which seeks to clarify the intent of the $200,000 appropriation for the Department of Finance.
Offered by Vice Speaker Justo S. Quitugua, D-Saipan, the bill states that the $200,000 earmarked for the finance department will be used for enforcement purposes.
The money will come from poker license fee collections without further legislative approval.
H.B. 15-235 now goes to the Senate which is scheduled to hold a session on March 8.