Virgin Islands issues another $25 million in income tax refunds

The Virgin Islands government said on March 28, 2022, that it was distributing another $25 million in income tax refunds, including refunds from tax year 2020.

Government House Communications Director Richard Motta Jr. said during the weekly briefing that the distribution covered 2019 and prior-year refunds that were filed on time and were not under audit or affected by errors. It also included about 1,431 refunds for tax year 2020 that were filed on or before Feb. 12, 2021.

The administration said it had budgeted quarterly refund distributions of $25 million for fiscal year 2022.

At the same briefing, Motta said the Office of Management and Budget held its 2022 Spring Revenue Estimating Conference on March 25 as it prepared the fiscal 2023 and 2024 executive budgets for submission to the Legislature.

He said presentations from 21 revenue-generating agencies and autonomous entities, along with the chambers of commerce from both districts, showed a stable and growing financial outlook for the territory. Government House said hotel revenues were up 75%, first-quarter 2022 visitor totals were nearly double the same period in 2021, and unemployment had fallen to 7.9%.

Assistant Health Commissioner Dr. Nicole Craigwell-Syms also announced an education initiative involving the Health Department, Education Department and Virgin Islands Police Department on the risks of consuming unregulated THC-infused edibles.

Motta also said operations of the St. Thomas-Water Island abandoned vehicle task force would pause until May 2022, though vehicles could still be tagged and removed in emergency situations.

Government House reported a seven-day COVID-19 positivity rate of 1.76% as of March 28, 2022, with 40 active cases and no COVID-19 patients hospitalized at Juan F. Luis Hospital on St. Croix or Schneider Regional Medical Center on St. Thomas. It also said the pop-up vaccination program on St. Croix and St. Thomas would end on March 31, 2022.

Official source: https://www.vi.gov/bureau-of-internal-revenue-issuing-another-25-million-in-income-tax-refunds/