Rev & Tax projects $34M GovGuam shortfall - KUAM.com-KUAM News: On Air. Online. On Demand.

Rev & Tax projects $34M GovGuam shortfall

by Lannie Walker

Guam - While the Appropriations Committee looks at the finances for 2011, they may want to take another look at the numbers for the current fiscal year.  According to Department of Revenue & Taxation director Art Ilagan, although collections are improving, it doesn't necessarily mean revenues are.  "Collections we are seeing an increase, but the just collections of delinquent accounts when you put it together with revenues it paints a different picture the revenues is short compared to projections," he said.

According to Ilagan the government is looking at a $34 million shortfall for the year.

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