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| | 1,000 filing GRT monthly - guampdn.com (Site not responding. Last check: 2007-10-13) |
 | | Changes to the Gross Receipt Tax in April last year lightened the tax burden on the island's small businesses two ways: the GRT rate rolled back from 6 to 4 percent and their exemption from the tax increased from the first $35,000 to $50,000 of revenue. |
 | | Every business is required to file a monthly, rather than quarterly, GRT form to the Department of Revenue and Taxation, including businesses that are exempted from paying GRT. |
 | | While acknowledging the new GRT filing system means more paperwork, Janice Benavente, supervisor of the GRT section at Rev and Tax, said the system, in the long run, will help the government monitor the money flow and determine the tax revenue even if no tax payment is due. |
| www.guampdn.com /news/stories/20050113/localnews/1859333.html (543 words) |
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