Gov calls for revamp of tax exemption policies
Gov. Lolo Matalasi Moliga has called on the government appointed Tax Exemption Board for a full review of incentives provided in this local law that would benefit all businesses in American Samoa.
The governor’s request was made during Thursday’s cabinet meeting where several issues were discussed by Lolo, who reiterated the quest by his administration as promised at last year’s gubernatorial campaign to promote and support the private sector.
“Most of the money that we see today - tax on the wharf, corporate taxes, individual taxes - is all part of our business community,” Lolo told directors.
“So we have to nurture and develop our business community to make sure that they continue to grow, prosperous and make money and in turn develop more jobs for our people,” said the governor.
Lolo says he has asked ASG Treasurer Dr. Falema’o ‘Phil’ Pili and the Tax Exemption Board “to sit down and look into exemptions, giving our people, our businesses a chance to grow. That’s the whole idea behind having the government support of business.”
During this year’s Flag Day the governor thanked the private sector for their contribution and support in the development of the local economy by providing jobs for local residents.
Tax Exemption have been criticized by the private sector for many years because there are not many businesses that qualify for such an incentive. Some have called for more transparency in the decision making of the Tax Exemption Board.