CNMI casino project operator wants tax break

8:30 am on 17 December 2015

A Chinese company planning a huge resort in the Northern Marianas is asking the territorial government to grant it a tax break.

Alter City Group is planning to invest US1.2 billion dollars to build two casinos and hotels, along with apartments, a golf course, water park, museum and a cultural centre on Tinian.

Alter City Group chief executive, Edvon Sze, says if they were granted a qualifying certificate for a tax break it would go a long way to ensuring the project goes ahead.

The qualifying certificate programme was instituted to lure new investors and businesses through tax breaks and other incentives that can apply for a fixed number of years.