Roundtable held on tax code commission - KUAM.com-KUAM News: On Air. Online. On Demand.

Roundtable held on tax code commission

Posted: Updated:

by Ken Quintanilla

Guam - A roundtable was held this morning on the Legislative Tax Code Commission aimed on getting insight from former members, compiling documents of work that has been done in the past and beginning renewed discussion on the Internal Revenue Tax code.

Former Guam Finance Commission member Bob Steffy discussed the economic model once used to help Guam with the proposed changes to the Internal Revenue Code and complying with regulations by Congress. He said, "One of the things we had to prove to congress was it was going to be revenue neutral or positive. Another element is it could not discriminate against U.S. taxpayers and we needed an implementation agreement and I'm not sure if we ever got to that the economic model allowed us to take certain things in the Internal Revenue Code and if we take it out what are the revenue projections."

Other discussions ranged from double taxation, stability purposes and legislative actions. The roundtable was hosted by Senator Ben Pangelinan and included former speaker and commission member Joe T. San Agustin and Rev & Tax director John Camacho.

  • NEWS HEADLINESMore>>

  • Female files complaint against deceased priest

    Female files complaint against deceased priest

    Another clergy sexual abuse lawsuit is filed in the District Court of Guam. According to the federal complaint, J.E.L. alleges she was sexually molested by deceased Capuchin priest, Father John "Jack" Niland who was assigned to the Agat parish. J.E.L. doeMore >>
    Another clergy sexual abuse lawsuit is filed in the District Court of Guam. According to the federal complaint, J.E.L. alleges she was sexually molested by deceased Capuchin priest, Father John "Jack" Niland who was assigned to the Agat parish. J.E.L. doeMore >>
  • Governor declares state of emergency after flooding

    Governor declares state of emergency after flooding

    Governor Eddie Calvo has declared a “State of Emergency” for Guam as a result of flooding that has left roads and bridges impassible and island residents homeless. The Governor has activated the Guam National Guard to assist the Department of More >>
    Governor Eddie Calvo has declared a “State of Emergency” for Guam as a result of flooding that has left roads and bridges impassible and island residents homeless. The Governor has activated the Guam National Guard to assist the Department of More >>
  • Audit questions $50,000 in undeposited bus fairs

    Audit questions $50,000 in undeposited bus fairs

    An audit of the Guam Regional Transit Authority non–appropriated funds is questioning over $50,000 in undeposited bus fares. According to the report, GRTA has no accounting system of the funds, and lacks basic controls to "address typical risks to cMore >>
    An audit of the Guam Regional Transit Authority non–appropriated funds is questioning over $50,000 in undeposited bus fares. According to the report, GRTA has no accounting system of the funds, and lacks basic controls to "address typical risks to cMore >>
Powered by Frankly