High probability for lost revenue at GovGuam - KUAM.com-KUAM News: On Air. Online. On Demand.

High probability for lost revenue at GovGuam

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by Sabrina Salas Matanane

Guam - According to an audit released by the Guam Office of Public Accountability there is a high probability of lost revenue for the Government of Guam and susceptibility to fraud, waste and abuse due to non-assessment and improper exemptions of “Use Tax”.

The OPA report notes the GovGuam Use Tax process is problematic and in need of significant improvements. Specifically:

 1. The total amount of Use Tax assessments and collections is unknown;

2. No GovGuam agency is collecting outstanding receivables which according to the Department of

Administration’s (DOA) records have amounted to $4.9M in Fiscal Year (FY) 2013. These receivables are not recorded in the Department of Revenue and Taxation (DRT)’s system; and

3. There is no documentation to support that Use Tax exemptions are granted in accordance with law.

The audit goes on to state that these conditions occurred because there is no GovGuam agency that is fully responsible for reviewing, monitoring, reconciling, or collecting Use Tax.
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