{"id":188616,"date":"2015-01-05T04:00:29","date_gmt":"2015-01-04T18:00:29","guid":{"rendered":"http:\/\/www.saipantribune.com\/?p=188616"},"modified":"2015-01-05T04:00:29","modified_gmt":"2015-01-04T18:00:29","slug":"guam-creates-tax-incentives-boost-hotel-rooms","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/guam-creates-tax-incentives-boost-hotel-rooms\/","title":{"rendered":"Guam creates tax incentives to boost hotel rooms"},"content":{"rendered":"

HAGATNA, Guam<\/strong> (AP)\u2014Guam has created tax incentives to encourage developers to build 1,600 new hotel rooms in the next five years with a new law enacted Wednesday.<\/p>\n

The law will also provide tax incentives for existing hotel owners to expand their facilities, the Pacific Daily News reported.<\/p>\n

The steps will help the U.S. territory compete with other tourist destinations, officials said.<\/p>\n

\u201cIt was absolutely necessary to provide an incentive,\u201d said Mana Silva Taijeron, deputy administrator of the Guam Economic Development Authority.<\/p>\n

Developers would receive a tax abatement, an exemption, and a rebate equal to 10 percent of their total construction costs.<\/p>\n

The law calls for the incentives to end in 2020 or when 1,600 rooms are built. The incentives would also end if the U.S. includes China in a visa waiver program allowing people to travel to the U.S. without a visa for 90 days or less.<\/p>\n

Developers will be able to use their incentive in one of four ways.<\/p>\n

They may claim a 75 percent income tax rebate for 20 years, 50 percent business privilege tax credits for 20 years, or 100 percent real property tax abatement for 10 years.<\/p>\n

The fourth tax option would be to claim a 100 percent exemption from the use tax on furnishings and equipment within the first year of a hotel\u2019s operation.<\/p>\n

The Guam Economic Development Authority must submit a proposal regarding investments to the Legislature within 60 days.<\/p>\n","protected":false},"excerpt":{"rendered":"

HAGATNA, Guam (AP)\u2014Guam has created tax incentives to encourage developers to build 1,600 new hotel…<\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[169,51,67,122],"class_list":["post-188616","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-china","tag-guam","tag-people","tag-travel"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/188616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=188616"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/188616\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=188616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=188616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=188616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}