Tourism industry reacts to impending taxes

BY JOURNAL STAFF

The business community continues to have mixed views after Gov. Edward B. Calvo’s signed into law Bill No. 248-34 on March 16 following a narrow 8-7 vote in the Guam Legislature on March 15. The law temporarily raises the business privilege tax by 1% as of April 1 and later implements a 2% sales tax beginning Oct. 1. The intention of the law is to remedy the government of Guam’s $67 million shortfall by implementing cost reductions and enhancing revenues to address shortages in specific areas . . .

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