Simon Sanchez suggests Hawaii's "visible GRT" - KUAM.com-KUAM News: On Air. Online. On Demand.

Simon Sanchez suggests Hawaii's "visible GRT"

Posted: Updated:

As the administration and the legislature continue to grapple over how to raise more revenue to meet the projected shortfall, a former senator is proposing another idea.  Businessman Simon Sanchez says leaders may want to consider a tax passed in Hawaii known as a "visible gross receipts tax".

"Every business on Guam knows how to do GRT. We'd all have to learn how to do a sales tax, and that lag would create pressure on when revenues could begin to be realized. Meanwhile the visible GRT you could implement very quickly, very straightforward. And technology today allows vendors to easily add that one component on the receipt when they punch it in," said Sanchez.

"It would be easier to work with, and faster to work with, and protect the bond covenants and eliminate uncertainty" he added.

Sanchez says the remaining debate would be over how much to increase the visible GRT.  He also says that a foundation will be set for a sales tax, if the government decides it wants to move away from the current hidden GRT.

  • NEWS HEADLINESMore>>

  • Pair of men arrested after Merizo home invasion

    Pair of men arrested after Merizo home invasion

    Two men are under arrest accused of entering a home and threatening the victim with a knife and tire iron. Bernard Joel Muna and Benjamin Anthony Muna are charged with home invasion, burglary and terrorizing. Police responded to the incident in Merizo on More >>
    Two men are under arrest accused of entering a home and threatening the victim with a knife and tire iron. Bernard Joel Muna and Benjamin Anthony Muna are charged with home invasion, burglary and terrorizing. Police responded to the incident in Merizo on More >>
  • Committee will look into GMH's controversy

    Committee will look into GMH's controversy

    Controversy at the hospital prompts a legislative investigative committee. The committee will meet to discuss a recent CMS survey outlining hospital mismanagement and deficiencies that could lose the hospital millions of dollars in Medicare and Medicaid fMore >>
    Controversy at the hospital prompts a legislative investigative committee. The committee will meet to discuss a recent CMS survey outlining hospital mismanagement and deficiencies that could lose the hospital millions of dollars in Medicare and Medicaid fMore >>
  • Athena McNinch receives Congressional Award Gold Medal

    Athena McNinch receives Congressional Award Gold Medal

    Congratulations to recent University of Guam graduate, Athena McNinch who was recognized by the House of Representatives and U.S. Senate today. She was presented the Congressional Award Gold Medal. The Congressional Award is given to young Americans, recoMore >>
    Congratulations to recent University of Guam graduate, Athena McNinch who was recognized by the House of Representatives and U.S. Senate today. She was presented the Congressional Award Gold Medal. The Congressional Award is given to young Americans, recoMore >>
Powered by Frankly