Bryan Administration Releases $4 Million In Tax Refunds

The Bryan administration announced Thursday that the Virgin Islands Bureau of Internal Revenue (B.I.R.) paid out an additional $4 million in tax refunds to filers in the territory. 

The latest round of refunds includes approximately 1,500 refunds covering tax year 2016 and representing returns filed through April 18, 2017, Government House said.

B.I.R. Director Joel Lee said the latest release of refunds does not include all the returns filed on the April 18, 2017 filing deadline. 

”Those refunds will be issued in the next release of refunds,” Mr. Lee said, adding that refunds are processed and issued based on the date the return was filed, according to Government House.

The administration said that to date it has paid out $21.4 million in tax refunds to over 9,300 filers. The figure accounts for $19.3 million in refunds and $2.1 million in interest owed, Government House said.

USVI residents who were included in this latest round should have started receiving their checks, Mr. Lee said.

“The release of these refunds underscores the Bryan/Roach administration’s continued commitment to addressing the long-standing obligations of the Government of the Virgin Islands,” said Dept. of Finance Commissioner Kirk Callwood.

Mr. Bryan echoed Mr. Callwood’s statement and added that the refunds are another example of his administration’s vow to stabilize and restore the public’s trust in the Government of the Virgin Islands, according to Government House.

“Our administration continues to press forward on our three main priorities of stabilizing government, continuing the recovery and growing the economy,” said the territory’s leader. He added that paying the government’s outstanding debt obligations including to the Water and Power Authority and most importantly the people of the Virgin Islands, is part of stabilizing government. 

“We are doing what we said we would,” Mr. Bryan stated. “A stable and financially sound government is the solid foundation we need to be able to make meaningful investment in our people and infrastructure with the recovery dollars.”