Guam Introduces Sales Tax

April 3, 2018 Jesse Rooney

The Governor of Guam has recently signed a bill to establish a sales tax in Guam. This sales tax, a first for the island territory, will be imposed upon all sales of tangible personal property and all services excluding banking, lending, foreign currency, and insurance services. The sales tax will be effective October 1, 2018. The Department of Revenue and Taxation will be responsible for administering the sales tax, and the Department will need to promulgate rules for the same.

The bill also imposes a temporary increase in Guam’s business privilege tax. The business privilege tax will be raised from 4% to 5% from April 1 to September 30, 2018. Additionally, the bill will enable and require the Governor to reorganize the government. This will require the government to cut costs to the tune of $30 million but will prioritize spending in education, health, and public safety.

You can review the bill here.

About the Author

Jesse Rooney is a Regulatory Analysis Counsel at Sovos. His research focuses on AEOI, ACA, information return, and sales tax issues. Mr. Rooney received his B.A. from Framingham State University and his J.D. from the University of Massachusetts School of Law. He is licensed to practice in Massachusetts.
More Content by Jesse Rooney

Idaho to Begin Taxing Internet Sales July 1, 2018

The Governor of Idaho has recently signed HB 578, a bill expanding which remote retailers will be required ...

UK-EU Draft Withdrawal Agreement Published

On March 19, the UK published first draft of a withdrawal agreement, although not finalized, indicates that...

Return to Home

Stay up to date with the most accurate, timely regulatory news updates from Sovos’s experts.

Guam Introduces Sales Tax

About the Author

Previous Article

Next Article

Tax Compliance and Business-to-Government Regulatory Feed

Guam Introduces Sales Tax

About the Author

Previous Article

Next Article

Most Recent Articles

The Kentucky Department of Revenue has published “Specifications for Electronic Submission of Annual Wage and Tax Information via Electronic Media or Web for Year 2018.”

The Ohio Department of Taxation has published W-2 Magnetic Media specifications for TY2018 reporting.

The Nebraska Department of Revenue recently published Revenue Ruling 99-18-1, “Interest Rate Assessed on State Taxes.”

New York Tax recently updated Form NY-100, “New York State Employer Registration for Unemployment Insurance, Withholding, and Wage Reporting.”

The New Mexico Taxation and Revenue Department revised Bulletin B-400.4, “effective Interest Rates for Late Payment of Tax Due.”

The Virginia Department of Taxation recently published Tax Bulletin 18-5, which details the interest rate for certain tax types.

The Missouri Department of Revenue recently released an updated version of Publication 4282, Employer’s Tax Guide.

Maine Revenue Services has updated some forms and instructions relevant to withholding.

Indiana's Department of Revenue recently updated Departmental Notice #1, How to Compute Withholding for State and County Income Tax.

The Pennsylvania Department of Revenue has revised two of its withholding publications.

The IRS has recently revised Publication 1179, “General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns.”

The Puerto Rico Hacienda recently released Forms 499R-2 and 499R-2C for Tax Year 2018.

The New Jersey Division of Taxation has published the electronic specifications for reporting Tax Year 2018 W-2 information.

The Delaware Department of Finance, Division of Revenue, has updated its W-2 and 1099 Form FAQs to reflect the new deadlines for 2018 filings.

The Brazilian Congress is once again considering a series of tax reforms aimed at simplifying its complicated indirect tax system. It proposes to replace with a nationwide VAT.

Out-of-state vendors that deliver more than $100,000 of goods or services into West Virginia or engage in 200 or more transactions during 2018 will be required to collect sales and use tax 1/1/2019.

Wisconsin requires out-of-state retailers with no physical presence to collect and remit sales or use tax on sales of taxable products and services beginning October 1, 2018. See more for thresholds.

Sellers who had in excess of $100,000 in retail sales into Nevada, or conducted 200 or more retail sales into the state in the current or preceding year are required to collect sales and use tax.

Now includes vendors who sell taxable tangible personal property or services into Maryland that exceed $100,000, or sold taxable items or services into the state in 200 or more separate transactions.

Texas is working on a new post-Wayfair regulation. The current draft proposes to amend 3.286(b)(2) by removing references to “nexus” and replacing them with safe harbor for remote sellers.

Tax Compliance and Business-to-Government Regulatory Feed