VIBIR Testimony on BILL NO 36-0023, IRB — Budget, Appropriations and Finance, March 18, 2025
GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES --------0-------- VIRGIN ISLANDS BUREAU OF INTERNAL REVENUE 6115 Estate Smith Bay – Suite 225 4008 Estate Diamond Plot 7 B St. Thomas VI 00802 Christiansted VI 00820-4421 Phone: (340) 715-1040 Phone: (340) 773-1040 Fax: (340) 774-2672 Fax: (340) 773-1006 TESTIMONY OF DIRECTOR OF THE VIRGIN ISLANDS BUREAU OF INTERNAL REVENUE BEFORE THE COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE GREETINGS HONORABLE SENATOR NOVELLE E. FRANCIS, JR., CHAIRPERSON OF THE COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE, MEMBERS OF THE COMMITTEE, ALL OTHER SENATORS PRESENT, AND THE LISTENING AND VIEWING AUDIENCE. I AM JOEL A. LEE, DIRECTOR OF THE VIRGIN ISLANDS BUREAU OF INTERNAL REVENUE. THANK YOU FOR ALLOWING THE BUREAU TO PRESENT TESTIMONY ON BILL NO. 36-0023. THIS BILL WOULD REVISE THE CALCULATION OF HIGHWAY USER’S TAX BY IMPLEMENTING CLASSES BASED ON WEIGHT. THE BILL ANTICIPATES EIGHT CLASSES OF WEIGHTS WITH ASSOCIATED INCREASES RANGING FROM THE CURRENT 16 CENTS PER POUND UP TO 30 CENTS PER POUND. …
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GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES --------0-------- VIRGIN ISLANDS BUREAU OF INTERNAL REVENUE 6115 Estate Smith Bay – Suite 225 4008 Estate Diamond Plot 7 B St. Thomas VI 00802 Christiansted VI 00820-4421 Phone: (340) 715-1040 Phone: (340) 773-1040 Fax: (340) 774-2672 Fax: (340) 773-1006 TESTIMONY OF DIRECTOR OF THE VIRGIN ISLANDS BUREAU OF INTERNAL REVENUE BEFORE THE COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE GREETINGS HONORABLE SENATOR NOVELLE E. FRANCIS, JR., CHAIRPERSON OF THE COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE, MEMBERS OF THE COMMITTEE, ALL OTHER SENATORS PRESENT, AND THE LISTENING AND VIEWING AUDIENCE. I AM JOEL A. LEE, DIRECTOR OF THE VIRGIN ISLANDS BUREAU OF INTERNAL REVENUE. THANK YOU FOR ALLOWING THE BUREAU TO PRESENT TESTIMONY ON BILL NO. 36-0023. THIS BILL WOULD REVISE THE CALCULATION OF HIGHWAY USER’S TAX BY IMPLEMENTING CLASSES BASED ON WEIGHT. THE BILL ANTICIPATES EIGHT CLASSES OF WEIGHTS WITH ASSOCIATED INCREASES RANGING FROM THE CURRENT 16 CENTS PER POUND UP TO 30 CENTS PER POUND. BUREAU OF INTERNAL REVENUE TESTIMONY BILL 36-0023 HIGHWAY USER’S TAX INCREASE THE BUREAU REVIEWED LAST YEAR’S COLLECTIONS OF HIGHWAY USER’S TAX AND NOTED THAT THE AVERAGE WEIGHT OF VEHICLES PURCHASED LAST YEAR WAS 4,000. IF IT IS THIS BODY’S INTENT TO PLACE A HIGHER TAX FOR LARGER VEHICLES, THE BUREAU WOULD RECOMMEND THAT A SIMPLIFIED INCREASED, SUCH AS A FLAT INCREASE TO THE CURRENT SIXTEEN CENT RATE. THE BASIS FOR THIS RECOMMNEDATION IS THAT THE COST OF THE IMPLEMENTATION OF AN EIGHT CLASS PRICE RANGE FAR EXCEEDS THE ANTICIPATED COLLECTION COSTS. THANK YOU FOR THE OPPORTUNITY TO PROVIDE THIS TESTIMONY. I AM AVAILABLE TO ANSWER ANY QUESTIONS YOU MAY HAVE AT THIS TIME.