Business

No Taxes On Internet Purchases... For Now

ST. THOMAS -- V.I. Residents will be pleased to know that the Mapp administration's plan to tax internet purchases was not included in last night's final sin tax bill, which was favorably supported by Senate Democrats and forwarded to Governor Kenneth Mapp for his signature. But that doesn't mean the plan won't eventually be adopted. According to Dept. of Finance Commissioner and Public Finance Authority Executive Director Valdamier Collens, speaking at a press conference last month, the governor's five-year economic growth plan, also includes new taxes on products purchased over the internet — whether from Amazon, Walmart or other U.S. retail outlets. Mr. Collens said the tax will be 5 percent, which he said would generate about $3 to $5 million annually for the government. Mr. Mapp said companies such as Amazon and Walmart have systems that track sales and could provide the government with realtime details relative to products purchased over the internet by V...