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37 chapters · 1,178 sections in this title.
12 GCA § 60100 Legislative Intent
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The Legislature finds that it is in the best interest of the territory of Guam to offer inducements to attract United States companies which are engaged in export trade to establish Foreign Sales Corporations in Guam and that special tax incentives are necessary for this purpose.…
12 GCA § 60101 Definitions
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For the purposes of this Chapter: (a) The term FSC means a Guam domestic corporation which is: (1) A FSC as defined in §922(a) of the Internal Revenue Code as the same may be amended from time to time, and (2) the holder of a valid Guam FSC license duly issued pursuant to 11 GCA …
12 GCA § 60102 Tax Exemptions
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(a) For the purpose of the taxes imposed upon income pursuant of the Guam Territorial Income Tax (as established and defined in 48 U.S.C. §1424(i) gross income of a FSC does not include any foreign trade income of such FSC. (b) For the purpose of the taxes imposed upon income pur…
12 GCA § 60103 Special Qualifying Certificates
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(a) To the extent any foreign trade income, carrying charges, investment income, or gross income derived from sources without Guam as determined under Subsection (c) of § 6102 of Title 12, Guam Code Annotated, at anytime now hereafter becomes includable without the gross income o…