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Proposal to raise small‑business BPT exemption ceiling draws mixed reaction in committee
Summary
Senator Vicente Borja's bill to raise the gross‑income threshold for limited BPT exemptions to reach more small businesses was supported by GEDA and opposed cautiously by budget analysts; DRT said it has pulled the data and will deliver a fiscal analysis soon.
The committee heard Bill 90‑38 April 24, a measure introduced by Senator Vicente A. V. Borja to amend the Dave Santos Act threshold and increase the gross annual income ceiling that qualifies for a reduced business privilege tax for qualifying small businesses.
"The intent of this bill is simple, to provide more breathing room for Guam small businesses," Borja said in opening remarks. The bill as presented would raise the threshold so more local businesses could qualify for limited exemptions and pay a reduced BPT on the qualifying portion of gross receipts.
Department of Revenue and…
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