U.S. VIRGIN ISLANDS—Governor Albert Bryan Jr, announced Thursday that the Virgin Islands Bureau of Internal Revenue (IRB) paid out an additional $4 million in Income Tax refunds to tax filers in the territory.
The latest round of refunds comprises approximately 1,500 refunds covering Tax Year 2016 and representing returns filed through April 18, 2017.
IRB Director Joel Lee said, however, that the latest release of refunds does not include all the returns filed on the April 18, 2017 filing deadline.
”Those refunds will be issued in the next release of refunds,” Director Lee said, before making a point to note that refunds are processed and issued based on the date the return was filed.
To date, the Administration of Governor Albert Bryan Jr. and Lieutenant Governor Tregenza A. Roach has paid out $21.4 million in Income Tax refunds to more than 9,300 filers. The figure accounts for $19.3 million in refunds and $2.1 million in interest owed.
USVI residents who were included in this latest round of refunds already should have started receiving their checks, Director Lee said Thursday.
“The release of these refunds underscores the Bryan/Roach Administration’s continued commitment to addressing the long-standing obligations of the Government of the Virgin Islands,” said V.I. Finance Commissioner Kirk Callwood.
Governor Bryan echoed Commissioner Callwood’s statement and added that the refunds are another example of his Administration’s vow to stabilize and restore the public’s trust in the Government of the Virgin Islands.
“Our administration continues to press forward on our three main priorities of stabilizing government, continuing the recovery and growing the economy,” Governor Bryan said before adding that paying the government’s outstanding debt obligations including to the Water and Power Authority and most importantly the people of the Virgin Islands is part of stabilizing government.
“We are doing what we said we would,” the Governor stated. “A stable and financially sound government is the solid foundation we need to be able to make meaningful investment in our people and infrastructure with the recovery dollars.”
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