The VI Internal Revenue Bureau is reminding local manufacturers that excise tax returns must be filed by March 2nd.
It is especially important that returns are received on time as government officials will be required to appear in a March 9 hearing in U.S. District Court and provide evidence that the tax is levied on local manufacturers.
“The excise duty rates for goods manufactured in the Virgin Islands are listed in Title 33, Section 42 (A) of the Virgin Islands Code and are the same as those for goods imported into the Virgin Islands,” said a press release from Internal Joel Lee, director of the Revenue Bureau .
The area collects about $ 40 million in excise taxes each year, and the restraining order has cost the area nearly $ 90 million to date.
The return is due 30 days after the month in question. For example, returns for January are due by March 2nd.
Manufacturing cost worksheets are available on the office’s website at bir.vi.gov and in all offices of the office. All excise returns, including returns for locally produced goods, must be submitted through the excise web portal at https://excise.bir.vi.gov.
Taxpayers with questions can call Glenford Hodge at 340-715-1040. 3201.