The U.S. Department of the Interior’s Office of Insular Affairs announced today the release of $272,950,000 to the U.S. Virgin Islands in rum tax cover-over payments for estimated fiscal year 2021 rum tax collections in the territory. Under the Revised Organic Act of the Virgin Islands, any excise tax collected on USVI manufactured rum imported into the mainland United States is transferred to or “covered-over” to the USVI. The USVI government submits an advance estimate of rum excise taxes to the Department of the Interior’s Office of Insular Affairs (OIA) on an annual basis so that a payment can be made in September of each fiscal year. Any adjustments necessary are calculated and paid later based upon amounts advanced from rum excise taxes derived from the USVI and actual receipts collected by the federal government.
Some residents have express frustration with the COVID-19 test and who pays for it.
At the Finance Committee hearing on Wednesday, September 9, the VI Housing Authority admitted that it needs to do better on homeownership applications.