Tax amnesty program begins May 7
The government of Guam’s amnesty program, which waives penalties and interests for delinquent taxes, will run from May 7 to Aug 7, the Department of Revenue and Taxation announced.
The amnesty program applies to the various taxes that were due on or before Dec. 31, 2016.
A 10 percent down payment of total taxes due is required upon submission of the taxpayer’s application for the amnesty program.
Taxpayers are required to submit their application within a three-week time frame, from May 7 to 28. The deadline to pay the total taxes is Aug. 6.
“This is an opportunity for people, who were not able to pay their taxes at the time it was due, to make good on their obligations,” said Director John Camacho. “Additionally, this is an opportunity for us to collect on taxes owed to the government.”
Officials urged taxpayers to apply for the program as early possible to avoid processing delays. Upon submission of the application, tax payments will be accepted during the following 90-day period.
Taxes included under tax amnesty are: individual income tax, corporate income tax, employer withholding, business privilege taxes, alcohol and tobacco taxes, liquid fuel tax, occupancy tax, use tax, bed & breakfast tax, limited gaming tax and real property tax.
Under the 90-day program, DRT will all unpaid civil penalties,
except previously assessed fraud penalties, and any unpaid interest.