Virgin Island Eases Business Licensing Process

The Senate Committee voted on Thursday to do away with the requirement of obtaining a tax clearance letter before receiving either a new Virgin Island business license or a VI business license renewal.

State officials had originally passed a bill to require the tax clearance letter in an effort to ensure that all past-due taxes would get paid. Some senators feel that while the requirement aided in the collection of taxes, it impeded the business licensing process. They feel that there are enough other legislations in place to support the collection of unpaid taxes without it being a step in the business licensing process.

Virgin Island Daily News reports, “While the bill gets rid of the requirement, the lieutenant governor still can revoke any license if the business fails to pay taxes or enter into a satisfactory agreement with the government to pay its taxes.”

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