The Senate has approved a resolution requesting the senate Select Investigative Committee to review the disparity in personal and corporate tax collections for Fiscal Year 2025.
According to the resolution, the Senate recently identified significant fluctuations in the Department of Treasury’s reported personal and corporate tax collections. These included a marked disparity between the first and second quarters, a subsequent increase in the third quarter, and a decline in the fourth quarter. Correspondence from Acting Treasurer Brett Butler estimated the total outstanding excise tax liability to be $793,998.
During a hearing last week, Butler revealed that one individual or company owed $713,216—related to an aircraft—while the remaining balance of $80,781 was owed by 42 other individuals or companies.
The resolution also raises concerns about drugs being imported into the territory. Recent cases mentioned are a man charged with bribery and attempted drug importation, after allegedly offering $3,000 to a custom agent to facilitate delivery of a package containing methamphetamine hidden beneath candy and clothing. A separate case involving a package containing marijuana sent to the mailbox of a woman who allowed a friend to use her mailbox.
Under the resolution, the Senate Select Investigative Committee is tasked with examining the Department of Treasury’s handling of excise tax records, reporting practices, and its role in monitoring and intercepting the importation of illegal substances and firearms through customs and freight channels.
