Tax refund payments at their highest - KUAM.com-KUAM News: On Air. Online. On Demand.

Tax refund payments at their highest

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by Ken Quintanilla

Guam - The Calvo Administration has announced that tax refund payments are at the highest levels in history as for the past four years the average payout was $58 million compared to the over $100 million already paid this fiscal year.

As for this calendar year, about $80 million in 2012 refunds have been paid with about $25 million in Status-A expected to be paid between now and October totaling $105 million. Just as Governor Calvo stated to KUAM Thursday, BBMR director John Rios says the provision for tax refunds in the substituted budget bill is over by $8 million, excess funding which instead could be used to pay for the hay raises to employees.

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