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Fri Mar 5, 2021, 08:20 AM

NMI government: IPI owes over $10M in taxes

THE CNMI Department of Finance-Division of Revenue and Taxation has submitted three notices of tax lien against all the properties and rights to property of Imperial Pacific International LLC in the U.S. Department of Labor consent judgment proceeding in federal court.

Assistant Attorney General Dustin Rollins on Thursday stated that in accordance with the Northern Marianas Territorial Income Tax, “a Commonwealth tax lien has priority over any lien or encumbrance not perfected prior to the Commonwealth recording its tax lien notices.”

The total amount of the tax lien against IPI is $10,405,815.88.

Richard F. Santos, collection and remittance branch manager of the CNMI Division of Revenue and Taxation, said taxes (including interest and penalties) have been assessed against IPI, adding that “demand for payment of this liability has been made but it remains unpaid.”

https://mvariety.com/news/nmi-government-ipi-owes-over-10m-in-taxes/article_ee3c42ae-7cac-11eb-bade-df67ff30383b.html
(Marianas Variety)

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Reply NMI government: IPI owes over $10M in taxes (Original post)
TexasTowelie Mar 2021 OP
quaint Mar 2021 #1

Response to TexasTowelie (Original post)

Fri Mar 5, 2021, 09:50 AM

1. Imperial Pacific International Holdings Limited

...develops and operates destination casinos. Through its subsidiaries, the company develops integrated resorts featuring casinos, luxury hotels, restaurants, retail space and leisure facilities in Saipan, Northern Mariana Islands.
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Imperial Pacific found in contempt; CNMI to act as gambling debt collector
Saipan casino operator Imperial Pacific International (IPI) and its CEO have been found in contempt for wilfully slow-rolling court-ordered payments to former employees.

Meanwhile, the CNMI government has approved legislation that gives the government extra financial incentive to pursue legal action against the countless VIP gamblers who’ve reneged on IPI’s credit markers.

IPI is notorious for directly extending credit to international VIPs, who come to Saipan, live high on IPI’s hog, run up enormous tabs and then head back to mainland China, where gambling debts are legally unenforceable. This shrewd strategy has contributed to IPI reporting losses in the hundreds of millions of dollars in each of the past couple years.
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