Guam § 58147 - Tax Benefits Authorized.

§ 58147. Tax Benefits Authorized.

There shall be allowed to each beneficiary issued a Qualifying Certificate, pursuant to § 58147 of this

Article, a tax rebate, abatement, and exemption for the following taxes:

(a) One hundred percent (100%) Corporate Income Tax rebate for a period not to exceed ten (10)

years;

(b) One hundred percent (100%) Business Privilege Tax abatement for a period not to exceed ten

(10) years; and

(c) One hundred percent (100%) Use Tax exemption for a period not to exceed ten (10) years.

(d) The tax benefits provided under Subsections (b) and (c) of this Section shall be subject to the

following:

COL 2025-08-27

(1) the revenues generated from all eligible circular economy commercial activities under

12 GCA § 58104(r) are certified by a Certified Public Accountant; and

(2) if transshipment of recyclable materials occurs, the shipping company shows proof that

the transshipment of recyclable materials are recyclable, as defined in § 58147.3(f) of this Article.

(3) In order to qualify for the tax rebate, abatement, and exemption, a beneficiary shall

commit to divert from the waste stream a minimum amount of recyclable materials per year, as

determined reasonable and achievable according to the business activity and the requirements of

the Authority. GEDA, in conjunction with recycling stakeholders, shall determine what

constitutes “a minimum amount,” develop a list of such amounts by type of material, and include

the list in its amendment of Chapter 4, Title 16, Guam Administrative Rules and Regulations. All

beneficiaries, in addition to the standard compliance requirements, shall submit to GEDA an

annual report detailing the amount of material diverted from the waste stream during the course

of the beneficiary’s business activities.

(e) Interest Earned from Rebate. All interest earned by the government of Guam from the income

tax rebates authorized pursuant to §§ 58147 and 58147.1 shall be allocated to the Guam Environmental

Protection Agency (GEPA) to assist in the administrative cost for the implementation of this Act.