Island business leaders: no more taxes - KUAM.com-KUAM News: On Air. Online. On Demand.

Island business leaders: no more taxes

Posted: Updated:

No to more taxes - that's the basic sentiment from a survey conducted with the Guam business community.  It's no surprise that the island's private sector is up in arms over talks of tax increases.

In a recent survey with chamber membership, 87% oppose Governor Eddie Calvo's proposal to increase the Business Privilege Tax by nearly 19%. another 84% oppose Senator Dennis Rodriguez, Jr.'s proposal to increase, or create a health insurance fee of 4%. Board Chairman for the Guam Chamber of Commerce Bobby Shringi said a big concern is whether the government has done its part to cut expenses and boost collections. Another concern is whether the money raised will go where it's intended. And while most members opposed any increases, there may be room for negotiation.

"If there is one tax that could take a little tweak, the property tax would be that option, because it is the lowest in the nation," he said.

Shringi estimates minor changes in the property tax could raise tens of millions of dollars. Meanwhile he says the fees, taxes and borrowing bills currently under discussion won't only impact the cost of doing business in Guam, but the cost of living, as these fees will likely be passed on to the consumers.

"When that's increased, it adds on to the cost of goods, it impacts the most vulnerable in the community," Shringi shared. "As for the health insurance premium fee, no matter how you look at it and what it's funding, it's going to cause an increase in the cost of health insurance."

Shringi said any proposal to increase taxes should be put up for a vote through a referendum as mandated by Guam law.

  • NEWS HEADLINESMore>>

  • GPD's website hacked, other GovGuam sites defaced

    GPD's website hacked, other GovGuam sites defaced

    The Guam Police Department’s official government website and others have been hacked. Guam Homeland Security officials confirm Saturday afternoon that they received a 911 call about GPD’s site along with other government websites being defaced

    More >>

    The Guam Police Department’s official government website and others have been hacked. Guam Homeland Security officials confirm Saturday afternoon that they received a 911 call about GPD’s site along with other government websites being defaced

    More >>
  • Terlaje's bill bans automatic mods for firearms

    Terlaje's bill bans automatic mods for firearms

    Senators entertained testimony on a bill meant to prevent a school shooting tragedy locally. The measure by Vice-Speaker Therese Terlaje bans so-called "bump stock" firearm attachments that can increase firing rates to mimic automatic capabilities. The biMore >>
    Senators entertained testimony on a bill meant to prevent a school shooting tragedy locally. The measure by Vice-Speaker Therese Terlaje bans so-called "bump stock" firearm attachments that can increase firing rates to mimic automatic capabilities. The biMore >>
  • Book of regional poetry & art launching on April 21

    Book of regional poetry & art launching on April 21

    The local, nonprofit group Ta Tuge' Mo'na will launch the book, "Kinalamten Gi Pasifuku," at 4 p.m., April 21 at Ture' Café in East Hagatna. The new book is an anthology of poems, prose and art from across Oceania. It's the first publication from tMore >>
    The local, nonprofit group Ta Tuge' Mo'na will launch the book, "Kinalamten Gi Pasifuku," at 4 p.m., April 21 at Ture' Café in East Hagatna. The new book is an anthology of poems, prose and art from across Oceania. It's the first publication from tMore >>
Powered by Frankly