Carline B. Sablan, CDA economic development analyst, said in an interview on Wednesday that the regulation should provide more flexibility in allowing QC beneficiaries comply with the rules.
A QC provides tax breaks to its beneficiaries.
She noted that under the original regulation, CDA can grant a request for modification of a qualifying certificate only if an investor is not in compliance.
The amended regulation, she said, now allows CDA to act favorably on an complying investor’s QC modification request.
Sablan said some investors whose projects are very significant to the CNMI economy are seeking additional benefits.
Although CDA finds these beneficiaries deserving, the regulation as it was originally created prevents the agency from approving the requests.
CDA has eight active QC beneficiaries.
These include Hong Kong Entertainment Investment Limited which runs the $135.3 million Tinian Dynasty Hotel and Casino, and Laulau Development Inc., which is completing the $54.1 million Laolao Bay Golftel project in Kagman.
