House of Delegates introduced a bill to cut business Gross Receipt Tax (GRT) from 4% to 2% for the remaining three quarters of this fiscal year, from January 1, 2020 to September 30, 2020. The intent of the bill is to provide tax relief to businesses, professions and financial institutions due the impact of the […]
Tag: House of Delegates
Posted inTop Stories
Private sector to join pension plan bill proposed
House bill 10-126-13 adopted in the first reading last week, seeks to bring private sector employees and employers into the government pension plan fund. The bill findings stated that actuarial study conducted in 2019 on the government Pension Plan showed that by 2023 to 2025, current pension funds will be depleted. The bill further states […]
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HOD seeks to raise % of tax refundable donations
House of Delegates passed in its 3rd and final reading a bill to increase the amount of allowable tax refundable donation from 10% to 12% In the bill findings it states, “The Olbiil era Kelulau also finds that the increased percentage provides a greater tax benefit for working families and promotes enrollment and attendance in […]
Posted inBillboard
Taiwan Ambassador delivers speech at the House of Delegates
Republic of China (Taiwan) Ambassador Wallace Chow, on the invitation of Speaker Sabino Anastacio of the House of Delegates, delivered a speech on Palau-Taiwan bilateral relations and general strategic situation in the Pacific at the HOD opening session on October 8. Ambassador Chow took around 20 minutes to speak about Taiwan’s partnership and footprints in […]