Sen. Clifford A. Joseph, Sr. thanked his colleagues for support of Bill No. 36-0063, which clarifies the gross receipts tax statute to ensure that all persons doing business for or in the Virgin Islands pay their fair share in gross receipts tax. This clarification will prevent persons or corporations from avoiding tax liability because of physical location.
“As a freshman senator, it was important to me to ensure that I was able to bring forth a revenue generating measure and Bill No. 36-0063 does just that,” Joseph said.
During the vetting process, the representatives from the government’s financial team indicated that with this clarification there will be an increase in revenues to the Virgin Islands coffers. The bill was amended to make clear the bill’s intent, with amendment no. 36-381. “I did not work in a vacuum on this measure, said Joseph, Sr. “I worked closely with my colleagues, especially Senator Marise James, Esq. and Senator Novelle E. Francis, Jr. Collectively we also met with stakeholders to include leadership of VIBIR and attorneys in the community, to listen to their concerns and suggestion,” Joseph said.
“The measure adopted during session is a win for the territory and reflects my commitment to promote fiscal responsibility, generate revenues and provide a fair playing field for all,” concluded Joseph.
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