Notwithstanding the new remittance, the central government still owes MVA $4 million in hotel occupancy tax collections for fiscal year 2019, she added.
As for the $500,000 received by the tourism bureau, Iakopo said the fund was used to pay the marketing companies that promote the CNMI in South Korea, Japan, Taiwan, and China.
“We had payables that were 90 days overdue,” she said, adding that MVA is now current with its offshore and local vendors.
Finance Secretary David Atalig has also assured MVA that it will receive its share of hotel occupancy tax collections from the CNMI government, Iakopo said, adding that the department plans to remit $300,000 to MVA each week.
