TAX NEWS - JUNE 2010

Guam Tax: Rev & Tax, DepCor plan budget hearings

06 June 2010 -- Guam - Budget hearings will continue this week as lawmakers tackle budgets for Fiscal Year 2011. Hearings will be held on Monday for the Department of Revenue & Taxation, along with the Department of Youth Affairs and the Department of Corrections.

Rev & Tax has recently said while collections are improving this fiscal year, revenues are not.

As for DepCor, the agency is already expecting a close to a half-million dollar shortfall for this fiscal year. For the time being, budget hearings will also be held for the Guam Police Department and the Guam Fire Department on Tuesday.