Saturday, February 28, 2009

Tax Breaks, Exemptions, Incentives....Who Should Avail of These?

The CNMI, in its worst economic situation faces many more challenges ahead. Gubernatorial elections coming up as this is yet another year expected to change the face of the CNMI with hopeful slogans, campaigns, platforms and missions to drive the economy back to where we feel stable enough to sustain.

The tax schemes offered to foreign investors are no doubt needed to entice them to come in. No doubt our islands do not offer much and given its remote locale in the Western Pacific, it makes it more difficult for investors to see their profits soar here with the inclement busines environment bestowed on us through global economic change.  However, I ask, who truly deserves these tax scheme incentives? Ok, over the last few years we have had the Qualifying Certificate applied to;

1. Hard Rock cafe
2. Saipan World Resort
3. Kumho Asiana

These are at least the three I can remember, there may be more, but I don't have that information readily available.  Catching these investors on our incentive is fine, I am not one to complain as I too use these benefits to help lure new business.

Now, we have these businesses on the tax scheme incentive, what other companies do you think should avail of these services. Personally,I think corporations that look at protecting our environment. We are now in an era where we must look at our natural resources, our land, our sea, our take for granted environment we abuse everyday.

I think recycling corporations should have some relief. Our newly constructed landfill in Marpi, supposedly a 25 years lifespan, possibly now cut by 10 years...Why? We built a transfer station to segregate the islands trash. Personal dumping by citizens or by refuse companies use to go and use the facility, if this stayed on course, we could see our 25 years landfill, but no, not now,, refuse companies are going directly tot he landfill without the segregation of trash, skip out on the transfer station and dump directly, thus cutting our landfill lifespan by at least 10 years.

The point is, if we allowed refuse corporation to take out recyclable materials and ship it out of our islands to be reused by the world, we are doing everyone here a favor. Our landfill lives its full lifetime, our people become more conscious about their trash, our islands maintain its beauty, hence the flourishing of once our hopeful tourism industry. Of course no one wants another Garapan incident where the landfill burnt up and out of control leaving a pungent stenching smell for our tourist, to me, that was embarrassing and it is a health hazard.

This is a community affair and not an individual, I share my views on this only to see how many more refuse companies would actually take the offer should the government allow them these tax breaks. Recycling education is needed to ensure the success of a recyclable program for the CNMI.

1 comment:

bigsoxfan said...

Bad news and maybe some good news. The economy is in the toilet worldwide. Well, at least my narrow view of the world, which stretches from rural Maine across to uberurban San Diego, with a stop at heaven on earth Saipan, with a last stop in the third world (aching for the next rung on the ladder) Mongolia. At any rate, the price of oil and associated metals are going to rise again. Seperate that trash now, it will be of value again.

Did you know, Wayne? There is a ship sailing the Atlantic using Sails as auxilary power. There are a lot of options out there.

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Just a simple man who loves and cares for his family. Personal views with life in general, business and challenges in the Commonwealth of the Northern Mariana Islands. Sharing what we have through publications BISON Relations push out for everyone to keep abreast of what's happening in our beloved island home, Saipan.