Title 33 — Taxation and Finance
44 chapters · 619 sections in this title.
33 V.I.C. § 942 Notice of deficiency
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In general In general (a) If the Director determines that there is a deficiency in respect of any tax imposed by the Virgin Islands income tax law, he is authorized to send notice of such deficiency to the taxpayer by registered mail. In general (a) If the Director determines tha…
33 V.I.C. § 943 Restrictions applicable to deficiencies; petition to district court
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Time for filing petition and restriction on assessment Time for filing petition and restriction on assessment (a) Within 90 days, or 150 days if the notice is addressed to a person outside the Virgin Islands, after the notice of deficiency authorized in section 942 of this title …
33 V.I.C. § 944 Determinations by district court
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Jurisdiction as to increase of deficiency, additional amounts or additions to the tax Jurisdiction as to increase of deficiency, additional amounts or additions to the tax (a) The district court shall have jurisdiction to redetermine the correct amount of the deficiency even if t…
33 V.I.C. § 945 Assessment of deficiency found by district court
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If the taxpayer files a petition with the district court, the entire amount redetermined as the deficiency by the decision of the district court which has been final shall be assessed and shall be paid upon notice and demand from the Director. No part of the amount determined as …
33 V.I.C. § 1011 Payment by check or money order
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Authority to receive Authority to receive (a) It shall be lawful for the Director to receive for taxes imposed by this title or the Virgin Islands income tax law, checks, money orders or credit cards, to the extent and under the conditions provided in regulations prescribed by th…
33 V.I.C. § 1012 Fractional parts of a cent
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In the payment of any internal revenue tax imposed by this title or the Virgin Islands income tax law not payable by stamp, a fractional part of a cent shall be disregarded unless it amounts to one-half cent or more, in which case it shall be increased to 1 cent.
33 V.I.C. § 1013 Receipt for taxes
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The Director shall, upon request, give receipts for all sums collected by him, excepting only when the same are in payment for stamps sold and delivered; but no receipt shall be issued in lieu of a stamp representing a tax.
33 V.I.C. § 1014 Payment by foreign currency
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The Director is authorized in his discretion to allow payment of internal revenue taxes in the currency of a foreign country under such circumstances and subject to such conditions as the Director may by regulations prescribe.
33 V.I.C. § 1031 Lien for taxes
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If any person liable to pay any internal revenue tax neglects or refuses to pay the same after demand, the amount (including any interest, additional amount, addition to tax, or assessable penalty, together with any costs that may accrue in addition thereto) shall be a lien in fa…
33 V.I.C. § 1032 Period of lien
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Unless another date is specifically fixed by law, the lien imposed by section 1031 of this title shall arise at the time the assessment is made and shall continue until the liability for the amount so assessed is satisfied or becomes unenforceable by reason of lapse of time.
33 V.I.C. § 1033 Validity against mortgagees, pledgees, purchasers and judgment creditors
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Invalidity of lien without notice Invalidity of lien without notice (a) Except as otherwise provided in subsection (b) of this section, the lien imposed by section 1031 of this title shall not be valid as against any mortgagee, pledgee, purchaser or judgment creditor until notice…
33 V.I.C. § 1034 Release of lien or partial discharge of property
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Release of lien Release of lien (a) Subject to such rules or regulations as the Director may prescribe, the Director may issue a certificate of release of any lien imposed with respect to any internal revenue tax if—(1) Liability satisfied or unenforceable. The Director finds tha…
33 V.I.C. § 1051 Levy and distraint
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Authority of Director Authority of Director (a) If any person liable to pay any internal revenue tax neglects or refuses to pay the same within 10 days after notice and demand, it shall be lawful for the Director or any authorized representative to collect such tax together with …
33 V.I.C. § 1052 Surrender of property subject to levy
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Requirements Requirements (a) Any person in possession of (or obligated with respect to) property or rights to property subject to levy upon which a levy has been made shall, upon demand of the Director, surrender such property or rights (or discharge such obligation) to the Dire…
33 V.I.C. § 1053 Production of books
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If a levy has been made or is about to be made on any property, or right to property, any person having custody or control of any books or records, containing evidence or statements relating to the property or right to property subject to levy, shall upon demand of the Director, …
33 V.I.C. § 1054 Property exempt from levy
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Enumeration Enumeration (a) There shall be exempt from levy—(1) Wearing apparel and school books. Such items of wearing apparel and such school books as are necessary for the taxpayer or for members of his family;(2) Fuel, provisions, furniture, and personal effects. If the taxpa…
33 V.I.C. § 1055 Sale of seized property
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Notice of seizure Notice of seizure (a) As soon as practicable after seizure of property, notice in writing shall be given by the Director to the owner of the property (or, in the case of personal property, the possessor thereof), or shall be left at his usual place of abode or b…
33 V.I.C. § 1056 Sale of perishable goods
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If the Director determines that any property seized is liable to perish or become greatly reduced in price or value by keeping, or that such property cannot be kept without great expense, he shall appraise the value of such property and— (1) Return to owner. If the owner of the p…
33 V.I.C. § 1057 Redemption of property
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Before sale Before sale (a) Any person whose property has been levied upon shall have the right to pay the amount due, together with the expenses of the proceeding, if any, to the Director at any time prior to the sale thereof, and upon such payment the Director shall restore suc…
33 V.I.C. § 1058 Certificate of sale; deed of real property
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Certificate of sale Certificate of sale (a) In the case of property sold as provided in section 1055 of this title, the Director shall give to the purchaser a certificate of sale upon payment in full of the purchase price. In the case of real property, such certificate shall set …
33 V.I.C. § 1059 Effect of certificate of sale of personal property and deed of real property
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Certificate of sale of property other than real property Certificate of sale of property other than real property (a) In all cases of sale pursuant to section 1055 of this title of property (other than real property), the certificate of such sale—(1) As evidence. Shall be prima f…
33 V.I.C. § 1060 Records of sale
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Requirement Requirement (a) The Director shall keep a record of all sales of real property under section 1055 of this title and of redemptions of such property. The record shall set forth the tax for which any such sale was made, the dates of seizure and sale, the name of the par…
33 V.I.C. § 1061 Expense of levy and sale
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The Director shall determine the expenses to be allowed in all cases of levy and sale.
33 V.I.C. § 1062 Application of proceeds of levy
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Collection of liability Collection of liability (a) Any money realized by proceedings under this subchapter (whether by seizure, by surrender under section 1052 of this title or by sale of seized property) shall be applied as follows—(1) Expense of levy and sale. First, against t…
33 V.I.C. § 1063 Authority to release levy
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It shall be lawful for the Director, under regulations prescribed by the Director, to release the levy upon all or part of the property or rights to property levied upon where the Director determines that such action will facilitate the collection of the liability, but such relea…
33 V.I.C. § 991 Collection authority
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The Director shall collect the internal revenue taxes imposed by this title and the Virgin Islands income tax law.
33 V.I.C. § 992 Mode or time of collection
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Establishment by regulations Establishment by regulations (a) If the mode or time for collecting any internal revenue tax is not provided for by this title or the Virgin Islands income tax law, the Director may establish the same by regulations. Establishment by regulations (a) I…
33 V.I.C. § 993 Notice and demand for tax
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General rule General rule (a) Where it is not otherwise provided by the internal revenue law of the Virgin Islands, the Director shall, as soon as practicable, and within 60 days, after the making of an assessment of a tax pursuant to section 923 of this title, give notice to eac…
33 V.I.C. § 1101 Amounts treated as overpayments
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Assessment and collection after limitation period Assessment and collection after limitation period (a) The term “overpayment” includes that part of the amount of the payment of any internal revenue tax which is assessed or collected after the expiration of the period of limitati…
33 V.I.C. § 1102 Authority to make credits or refunds; reserve account
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(a) In the case of any overpayment, the Director, within the applicable period of limitations, may credit the amount of such overpayment, including any interest allowed thereon, against any liability in respect of an internal revenue tax on the part of the person who made the ove…
33 V.I.C. § 1103 Overpayment of installment
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In the case of a tax payable in installments, if the taxpayer has paid as an installment of the tax more than the amount determined to be the correct amount of such installment, the overpayment shall be credited against the unpaid installments, if any. If the amount already paid,…
33 V.I.C. § 1104 Abatements
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General rule General rule (a) The Director is authorized to abate the unpaid portion of the assessment of any tax or any liability in respect thereof, which—(1) is excessive in amount;(2) is assessed after the expiration of the period of limitation properly applicable thereto; or…
33 V.I.C. § 1105 Prohibition of administrative review of decisions
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In the absence of fraud or mistake in mathematical calculation, the findings of fact in and the decision of the Director upon the merits of any claim presented under or authorized by the internal revenue laws and the allowance or nonallowance by the Director of interest on any cr…
33 V.I.C. § 1106 Date of allowance of refund or credit
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The date on which the Director first authorizes the scheduling of an overassessment in respect of any internal revenue tax shall be considered as the date of allowance of refund or credit in respect of such tax.
33 V.I.C. § 1131 Tentative carryback adjustments
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Application for adjustment Application for adjustment (a) A taxpayer may file an application for a tentative carryback adjustment of the tax for the prior taxable year affected by a net operating loss carryback, provided in section 172(b) of the Virgin Islands income tax law, fro…
33 V.I.C. § 1132 Income tax withheld
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In the case of an overpayment of tax imposed by chapter 3 of the Virgin Islands income tax law, refund or credit shall be made to the withholding agent only to the extent that the amount of such overpayment was not deducted and withheld by the withholding agent.
33 V.I.C. § 1161 Limitations on assessment and collection
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General rule General rule (a) Except as otherwise provided in this section, the amount of any internal revenue tax imposed by this subtitle or the Virgin Islands income tax law shall be assessed within 3 years after the return was filed (whether or not such return was filed on or…
33 V.I.C. § 1162 Collection after assessment
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Length of period Length of period (a) Where the assessment of any internal revenue tax imposed by this subtitle or the Virgin Islands income tax law has been made within the period of limitation properly applicable thereto, such tax may be collected by levy or by a proceeding in …
33 V.I.C. § 1163 Suspension of running of period of limitation
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Issuance of statutory notice of deficiency Issuance of statutory notice of deficiency (a) (1) General rule. The running of the period of limitations provided in section 1161 or 1162 of this subtitle on the making of assessments or the collection by levy or a proceeding in court, …
33 V.I.C. § 1181 Limitations on credit or refund
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Period of limitation on filing claim Period of limitation on filing claim (a) Claim for credit or refund of an overpayment of any internal revenue tax imposed by this subtitle or the Virgin Islands income tax law in respect of which tax the taxpayer is required to file a return s…
33 V.I.C. § 1182 Limitations in case of petition to district court
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Effect of petition to district court Effect of petition to district court (a) If the Director has mailed to the taxpayer a notice of deficiency under section 942(a) of this title (relating to deficiencies of income taxes) and if the taxpayer files a petition with the district cou…
33 V.I.C. § 1183 Time return deemed filed and tax considered paid
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For purposes of section 1181 of this title, any return filed before the last day prescribed for the filing thereof shall be considered as filed on such last day. For purposes of section 1181(b)(2) and (c) and section 1182 of this title, payment of any portion of the tax made befo…
33 V.I.C. § 1184 Erroneous refunds and void credits
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Credits or refunds after period of limitation Credits or refunds after period of limitation (a) A refund of any portion of an internal revenue tax shall be considered erroneous and a credit of any such portion shall be considered void—(1) Expiration of period for filing claim. If…
33 V.I.C. § 1201 Periods of limitation on criminal prosecutions
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(1) No person shall be prosecuted, tried, or punished for any of the various offenses arising under the internal revenue laws unless the action is commenced within 3 years next after the commission of the offense, except that the period of limitation shall be 6 years—(1) for offe…
33 V.I.C. § 1202 Periods of limitations on actions
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Actions by taxpayers for refund Actions by taxpayers for refund (a) (1) General rule. No action or proceeding under section 1692(a) of this title for the recovery of any internal revenue tax, penalty, or other sum, shall be begun before the expiration of 6 months from the date of…
33 V.I.C. § 1231 Interest on underpayment, nonpayment, or extensions of time for payment, of tax
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General rule General rule (a) If any amount of tax imposed by the internal revenue laws of the Virgin Islands (whether required to be shown on a return, or to be paid by stamp or by some other method) is not paid on or before the last date prescribed for payment, interest on such…
33 V.I.C. § 1232 Interest on erroneous refund recoverable by an action
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Any portion of an internal revenue tax (or any interest, assessable penalty, additional amount, or addition to tax) which has been erroneously refunded, and which is recoverable by suit pursuant to section 1664 of this title, shall bear interest at the rate of 6 percent per annum…
33 V.I.C. § 1251 Interest on overpayments
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Rate Rate (a) Interest shall be allowed and paid upon any overpayment in respect of any internal revenue tax at the rate of 12 percent per annum. Rate (a) Interest shall be allowed and paid upon any overpayment in respect of any internal revenue tax at the rate of 12 percent per …
33 V.I.C. § 1281 Failure to file tax return
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Addition to the tax Addition to the tax (a) In case of failure to file any return required under authority of chapter 21 of this title (other than subchapter III thereof), of chapter 1 of this title (relating to inheritance taxes), of chapter 3 of this title (relating to certain …
33 V.I.C. § 1282 Failure to file certain information returns
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In case of each failure to file a statement of a payment to another person, required under authority of section 741 of this title (relating to information at source), section 742 of this title (relating to payments of corporate dividends), section 744 of this title (relating to p…