GARAPAN: DUE to the influx of imported goods, which is a sign of an improving economy, the revenue collected by the CNMI Division of Customs Service in November increased by $ 1.698 compared to the same period last year, its director, Joe Mafnas, told Variety.
Last month, Customs collected $3.859 million compared to $2.16 million in Nov. 2014.
Mafnas said the collection in October also increased by $503,424.11 — $3.118 million from $2.615 million in the same period last year.
“We are seeing more economic activity,” he said, adding that the bulk of imported products were construction materials and luxury goods.
As the island sees more hotel projects, there will be more construction materials and related equipment coming in, he added.
And once new businesses begin to operate, the government will collect more revenue, he said.
He said the increase in customs revenue can also be attributed to the “efficiency of customs personnel who were able to discover under-declared goods in the invoices by conducting reassessments and demanding that importers or consignees pay the actual taxable items based on their market value.”
Mafnas believes that their collections will continue to increase throughout the current fiscal year which ends in Sept. 2016.
