5 Jul 2012

Tinian casino settles CNMI tax debt

1:34 pm on 5 July 2012

Tinian Dynasty Hotel and Casino and the Department of Finance of the Northern Marianas have ended negotiations to settle Dynasty's 30 million US dollar tax debt.

Under the deal, Dynasty has agreed to pay the government 6.1 million dollars in back taxes, down from the original $30 million-plus, including interests.

Tinian Dynasty is just one of dozens of businesses and individual taxpayers that have significant outstanding tax obligations.

In a related development, Dynasty is negotiating with Taiwan-based Howarm Construction Company, which wants to buy its hotel-casino.