IPI has started making payments since Dec. 2019, Variety learned.
IPI supposedly owed close to $30 million in unpaid BGRT, but it said it has “overpaid” the CNMI government in previous years.
A yearlong negotiation between the Department of Finance and IPI followed, and it ended when both parties agreed that the casino investor should pay over $18 million, Variety learned.
In December, IPI transmitted $10 million to Finance and will pay the remaining $8 million “within a couple of months.”
On Sunday, IPI told Variety: “Imperial Pacific International CNMI LLC has reached a settlement with CNMI government over business gross revenue tax payments.”
IPI added that it “will pay in full the BGRT stipulated by the CNMI Finance Department by the end of March. The total amount is $18,176,801.”
IPI said it “will continue to honor our business commitments and financial obligations.”
In an interview, House Floor Leader John Paul Sablan said he is glad that IPI is meeting its tax obligations.
He expects the governor to identify this revenue as required by Public Law 20-10.
