Bryan says tax penalty abatement extended through Jan. 31

Gov. Albert Bryan Jr. held a press briefing on St. Thomas on Jan. 9, 2024, where he said the government was addressing cash-flow issues tied to a seasonal drop in revenue collections and expected collections to rise within one to two months.

Mr. Bryan said the administration was continuing to pay retroactive wages and income-tax refunds. He also announced that the tax penalty abatement program had been extended through Jan. 31, 2024.

The program applied to corporate and individual income taxes and gross-receipts taxes. Taxpayers seeking penalty relief were required to file all outstanding gross-receipts returns through November 2023 and all income-tax returns through tax year 2022.

During the briefing, Mr. Bryan also said the 71st Annual Crucian Christmas Festival concluded without major incidents and credited the Virgin Islands Police Department and Virgin Islands Fire and Emergency Medical Services.

He also noted the closure of the St. Croix Avis, describing it as a longstanding institution in the territory’s journalism community.

Official source: https://www.vi.gov/governor-bryan-conducts-first-press-briefing-of-2024/