Macau-based Alter City Group has applied for tax benefits amounting to $1.1bn under the Commonwealth of Northern Mariana Islands' qualifying certificate programme, reports the Saipan Tribune.
The Tinian investor has projected around $500m in tax payments from casino operations in its Plumeria Golf and Casino Resort over the next 24 years, while the request for tax incentives is in order to undertake the $1.2bn project at Puntan Diablo on Tinian.
“It’s mainly for developer’s tax and export and import tax, and also for the BGRT tax,” said ACG managing director Ken Lin.
According to Muna, the planned completion date for the resort is estimated as 2027, with work set to start later this year. The development will be in three phases, with the first, including 150 villas and the casino, planned to complete in July 2018. Operations will commence in 2019.
Source: Asia Gaming Brief
