|
|
 |
 |
|
|
|
|
|
|
|
|
|
|
|
Top Stories |
|
|
|
|
ASG officials to testify on money bills
Wednesday,
June 24, 2009
There hasn’t been much activity in both the house and Senate since the start of the special session on Monday, except the introduction of bills.
This morning in the House of Representatives, a bill to amend the Internal Revenue code to create tax parity between the US territories and the 50 states was introduced.
The bill would remove the requirement that companies owned by foreign corporations pay a 30% withholding for any payments repatriated to their parent company. Currently if a company is registered here on in Guam or other US territory, repatriates profits, royalties or other fees to its foreign parent company, it must pay the 30% withholding. The bill which Governor Togiola has sent to the Fono special session would remove that withholding.
The House and Senate have both scheduled public hearings tomorrow on appropriation bills.
The House Budget and Appropriations Committee, chaired by Rep. Vaiausia Yandall is calling the Treasurer, Budget Director, head of the American Samoa Economic Stiumulus Office, independent prosecutor and the acting Territorial Auditor.
Lawmakers want to find out about the government’s financial position and whether the bills submitted by the administration can possibly be funded. All four money bills are to be funded with unbudgeted, unexpended and unobligated monies from Fiscal Year 2009. The four money bills total $700,000.
The Senate Budget and Appropriations Committee chaired by Senator Seui Laau will question the Budget Director and Treasurer tomorrow.
| |
|
|
|
|
|
| Advertise! |
|
|
|
Advertise! |
|
|
|
(c) 2006 - South Seas Broadcasting, Inc. - All rights reserved.
Contact Us
|
|
 Wireless Access
 RSS Feeds
|
|
|
