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    Tuesday, November 13, 2018-1:11:40P.M.

     

     

     

     

     

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Best Sunshine says it has paid $27.8M in BGRT to date

BEST Sunshine International says it is now the largest CNMI taxpayer with total Business Gross Revenue Tax payments of $27.8 million since opening its live training facility in November last year.

In a response to an email from Variety, BSI said its BGRT for April alone totaled $9.7 million

For May, the BGRT will be $4.2 million, it added.

So for April and May, its BGRT payments amount to $13.9 million, Best Sunshine said.

For the first five months of 2016, it added, the CNMI government received $23.3 million in BGRT payments.

The BGRT payments do not include the statutorily mandated $15 million casino license fee that BSI pays each year. That amount is appropriated by the CNMI government for its retirees.

Variety also learned that Best Sunshine International has paid in advance the casino license fees for year 1, 2 and 5 totaling $45 million.

In addition, the Hong Kong-based investor has paid about $3 million for building permits and fees as well as Coastal Resource Management and Department of Public Works permits.

Separately, BSI paid close to $2 million in excise taxes on imports.

BSI is investing in an integrated casino resort which is a five-phased development plan that will create 4,000 hotel rooms in the CNMI over a period of time.

Its first phase, the Grand Mariana Resort Hotel and Casino, is a $550 million facility set to open early next year in downtown Garapan.

BSI said for the groundbreaking of Phase 2 of its integrated resort, it will provide an additional $20 million for a “community chest fund.”

BSI said it will also commission a survey to find out how CNMI residents want to spend the $20 million.

Best Sunshine’s investment on Saipan and the increase in Chinese tourism arrivals are credited for ending the islands’ economic decline which started in 1998.