31 Jan 2008

Tax refund cheques released in American Samoa

11:33 am on 31 January 2008

There's new money circulating in the American Samoa economy thanks to the release of the first batch of tax refund cheques.

The check run issued by Treasury yesterday was worth 910,000 US dollars.

570,000 US dollars are for Additional Child Tax Credit refunds which are paid by the US treasury and 300,000 US dollars are for local refunds.

This represents the returns for 400 individuals.

Tax Office Manager, Melvin Joseph, says 2500 returns have been filed.

Processing should take three weeks though the first filers have been issued their refunds in just two weeks.

Last year, the Tax office issued 14 million US dollars in tax refunds.