DLCA And BIR Working Together To Expedite Business Licenses

The Department of Licensing and Consumer Affairs (DLCA) announced Friday that it has entered into a memorandum of understanding with Virgin Islands Bureau of Internal Revenue which authorizes DLCA to issue business licenses to businesses with completed renewal applications that are pending tax clearance from the IRB. Under the MOU, businesses eligible for IRB administrative tax clearance approval are those that have: Timely submitted renewal applications, including payment of licensing fees prior to its expirationObtained tax clearance approval from the IRB for the tax years immediately preceding the relevant application tax yearOperated in compliance with all other business licensing requirements. According to DLCA, at its core, the new processing policy will expedite the issuance of renewal licenses to businesses that have been operating in compliance but are awaiting tax clearance approval. It will ensure that businesses taking substantive and good faith steps to operate in good sta...