Guam § 5203 - Returns and Reports - Failure to File - Penalties.

§ 5203. Returns and Reports - Failure to File - Penalties.

(a) (1) Any person who fails to file a return or report required by

this Act for limited gaming activities, which return or report

includes taxable limited gaming transactions, on or before the date

the return or report is due, as prescribed in § 5202(a)(3) of this Act,

is subject to the payment of an additional amount assessed as a

penalty equal to fifteen percent of the tax, or One Thousand Dollars

($1,000), whichever is greater; except that for good cause shown,

the Director may reduce or eliminate such penalty.

(2) Any person, subject to taxation under this Chapter for

limited gaming activities, who fails to pay the tax within the time

prescribed, is subject to an interest charge of two percent per month

or portion thereof for the period of time during which the payment

is late, or One Thousand Dollars ($1,000), whichever is greater.

(3) (A) Penalty and interest are considered the same as a tax

for the purposes of collection and enforcement, including liens,

distraint warrants, and criminal violations.

(B) Any payment received for taxes, penalties, or interest

is applied, first to the tax, beginning with the oldest

delinquency, then to interest, and then to penalty.

(4) The Director may, upon application of the taxpayer,

establish a maximum interest rate of twenty-four percent upon

delinquent taxes if the Director determines that the delinquent

payment was caused by a mistake of law and not by a willful intent

to evade the tax.

(b) The procedures for collection of any taxes due under this Act

and the authority of the Department to collect such taxes, shall be the

same as those provided for the collection of business privilege taxes.