When Bill 262-34, which repealed and amended Public Law 34-87 to impose a 2% general sales tax on Guam beginning Oct. 1, was passed by a vote of 11 to 4 in support of the bill on July 2, many businesspeople on Guam breathed a cautious sigh of relief. It was the first step in finding a more reasonable solution to the fiscal shortfall and funding needed by GovGuam and the Guam Memorial Hospital.
Businesspeople were relieved because when new taxes are implemented, everyone suffers. Since the business privilege tax increase was implemented on April 1, businesses . . .
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