There will be a significant reduction in tax collections once the Saipan Palms Resort shuts down for an 18-month renovation that will start on Oct. 4, he said.
Ladera International School of Saipan, Wells Fargo and other businesses are also shutting down, he added.
And then there is the “death valley period” that will hit the CNMI in the next three months when there will be no flights to Saipan from Nagoya and Osaka, Japan.
This is why it is necessary to come up with many revenue generating measures, Cabrera said.
But some members of the business community believe that imposing new fees and higher taxes on struggling companies could not generate extra revenue for the government.
