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Guam legislature advances tax-amnesty authorization despite objections over lost penalties
Summary
The Committee of the Whole advanced Bill 231, which authorizes the Department of Revenue and Taxation to establish a tax amnesty program under specified conditions. Lawmakers split over fiscal trade-offs: proponents cite past collections and immediate revenue needs; opponents warn of large waived penalties and benefits to businesses.
The Committee of the Whole advanced Bill 231 on a recommendation to place the measure on the third-reading file after an extensive round of amendments and floor comments.
Senator Tydegui, the bill sponsor, read an amendment specifying that the Department of Revenue and Taxation (DRT) may establish and administer a tax amnesty program only after the DRT director, in consultation with the Bureau of Budget and Management Research, issues a written determination that one of three criteria is met: projected general fund revenue shortfalls, a significant volume of delinquent or aged liabilities not collectable through standard enforcement, or economic conditions materially impairing taxpayers’ ability to pay. "The Department of Revenue and Taxation is authorized to…
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