Diego Vincent Camacho
REPRESENTATIVE Diego Vincent F. Camacho on Tuesday introduced House Bill 24-12, which would establish a tax amnesty period that will expire 60 days after its enactment. The bill would give taxpayers “an opportunity to rectify outstanding obligations while contributing to CNMI’s economic revitalization.”
In a statement to Variety, Camacho said H.B. 24-12 aims to “revitalize the CNMI economy by providing a temporary tax amnesty program that allows individuals and businesses to become compliant with their tax obligations without the burden of penalties and interest.”
“Recognizing the economic hardships that many businesses and residents have faced due to natural disasters, the Covid-19 pandemic, and economic downturns, this legislation seeks to give taxpayers a fresh start while ensuring that government revenues are recovered in a fair and structured manner,” the Precinct 1 representative said.
“The purpose of this bill is not to reward noncompliance,” he said, “rather, it is about giving those who have fallen behind an opportunity to correct their tax records while contributing to the economic rebuilding of the islands. The revenue collected through this program will directly support essential government services and help strengthen the local economy.”
He said his bill is “modeled after previous successful amnesty programs, which encouraged compliance and brought in much-needed revenue. The program is designed to be strictly limited in scope and duration, providing a 60-day window for eligible taxpayers to settle outstanding obligations without the added burden of penalties and interest.”
He said the amnesty program is a short-term measure aimed at long-term economic stability.
“This is not a free pass for tax evaders,” he reiterated. “Rather, it is a chance for individuals and businesses — many of whom have struggled due to circumstances beyond their control — to regain their footing and become fully compliant taxpayers moving forward,” Camacho said.
By encouraging compliance and recovering lost tax revenue, the amnesty program in H.B. 24-12 “will inject funds back into CNMI’s economy, allowing the government to support essential services, such as education, healthcare, and infrastructure development,” he said.
“We have seen how tax amnesty programs in the past have worked — not just here but across the U.S. This bill is about building a stronger, more resilient CNMI, where businesses and individuals can thrive while fulfilling their tax obligations,” Camacho said, adding that H.B. 24-12 will be deliberated in the Legislature in the coming weeks.
He encouraged open discussions with stakeholders and welcomes feedback from the public to ensure that the program is implemented effectively and fairly.
