Administration hopes for $25-$30M infusion of cash from tax amnesty program

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Guam – Meanwhile the Calvo administration has decided to implement a tax amnesty program in the hopes of collecting more taxes.

Those who owe taxes for 2016 and prior will have their penalties and late fees waived if they pay what they owe within a certain window. The program will only be temporary as a way to encourage people to pay their taxes in order to increase collections during a time when GovGuam is short on cash. Those who owe taxes will essentially only be paying the principle and none of the interest and penalties. Department of Revenue and Taxation Deputy Director Marie Benito spoke about the program on the mornings with Patti show on Newstalk K57.

“Have you put together the rules with how this is all going to all go down and when it will begin?” asked Arroyo.

“No. Unfortunately we’re still working on it. We just made that decision so now we’re putting together the guidelines and hopefully we should be able to release that sometime this week,” said Benito.

Benito says that they are hoping this amnesty program will help GovGuam collect anywhere between $20 and $30 million.